Russell 2000 and BTC Break Support as Market Faces Reversal

The Russell 2000 index has broken below its support level of $288, and it's now on track to test its 200-day moving average. The selling volume was high but not excessive, which suggests that the index may be due for a tradable bounce in the intermediate term.

The S&P 500, on the other hand, closed just below its 50-day moving average and is facing increased pressure to reverse its summer breakout. Another red candlestick could lead to a move down to 7,250 and a test of the 200-day moving average.

Bitcoin has lost some ground but still holds onto support at $8,600. However, its intermediate stochastics are not yet fully oversold, which means that it's not a clear 'buy' signal just yet.

The Nasdaq is also facing similar pressure as the S&P 500, having undercut its 50-day moving average. However, its technicals suggest that it may experience inconsistent price action before making any significant moves.