Following yesterday's ugly reversal candle in bitcoin, it has continued to slide. It's now down $779 to a session low of $39,880.

Unlike the Nasdaq, it's held the April lows so far.

The latest leg lower is a reminder that bitcoin has been a good leading indicator of intraday market sentiment. The S&P 500 is also touching fresh intraday lows but support is thinning out.

I fear for this chart over the weekend.