*S&P 500 HIP-3: Bullish BTF Value Zone Under Test*
The S&P 500 perpetual has transitioned from a sequence of bearish BTF daily blocks into bullish structure.
Following the October 19 recovery, price has consolidated within today's bullish block and recently tested its lower value zone near 7,660.
The immediate question is whether buyers can defend this area and reclaim 7,690–7,695.
A sustained recovery would bring the 7,715 region back into focus, with the higher target area near 7,730.
Failure to defend the lower value zone would weaken t
