NQ traded sideways in a narrow trading range on Thursday clearly showing that the rally has lost momentum, and may be ready to pullback down.
Whether or not it is the start of a bear market, it is difficult to say at this time because we need to see more evidence, and also because topping pattern takes some time to form.
On the short term intraday timeframe however, key support for NQ on Friday will be 6800.
-- As long as NQ can stay above 6800, selling should remains under control, and NQ is likely to simply trade sideways because Friday tend to be a choppy sideways type of day. However, the Fed buy programs can get triggered at any time, so we must also on the lookout for huge rally.
-- Breaking below 6800 could run-over stop-losses, and with everyone on the long side, and no buyers, selling could get intense, with some potential support at 6730.
Bitcoin continued to trade sideways above support on Thursday, and as long the recent low is not violated bitcoin price should stabilized here before resuming its up-trending mode
