### <center>Recapitulation</center>

- Bulls try to move the price from the low was formed at 3.449K but are unable to pull off a substantial recovery after the sharp decline, as most of the intraday actions to the upsides look to be coming from retailers executing their shorts. so overall our bearish setup stands intact, conditioned by the price stability below 4.675K.

 <center>![TV.jpeg](https://cdn.steemitimages.com/DQmU3utS1sQmtQJ8McR4X3Rh75Qjm2oVzbwqFMwRHf62oUs/TV.jpeg)</center>

### <center>Market Factors</center>

- The **Major Driving Factors On Bitcoin**  at this moment, are not some patterns of technical analysis! They stand much deeper and touch foundation roots of Blockchain technology, and its algorithms. The reason why,  I come up with this post to **Highlight The Four Events** that drive Bicoin price for now :

<center><a href="http://www.currencies.ru/doj-bitcoin-manipulation-probe-homes-in-on-tether-and-18112023005360.htm">Event #1. US Department of Justice has initiated a probe against Tether and Bitfinex.</a></center>

<center><a href="http://www.digitaljournal.com/tech-and-science/technology/two-new-coins-fight-it-out-after-bitcoin-cash-hard-fork/article/537334">Event #2. Hard fork of Bitcoin Cash.</a></center>

<center><a href="https://www.crypto-news.in/news/douglas-based-crypto-mining-host-giga-watt-files-for-bankruptcy/">Event #3. Douglas-Based Crypto Mining Host Giga Watt Files for Bankruptcy.</a></center>

<center><a href="https://www.theice.com/publicdocs/futures_us/exchange_notices/ICE_Futures_US-Notice_BitcoinLaunch20181120.pdf">Event #4. ICE Futures U.S., Inc.</a></center>

Due to the above 4 events, the bulls are unable to pull off a substantial recovery after the sharp decline, while a fall to around 3.200K will leave the entire crypto market with a capitalization below $100 billion in severe pain. So if this level is reached, Bitcon price level at 1.800K doesn’t seem as impossible, and the things are likely to stay there for few months before any sign of recovery !

### <center>Technical</center>

- The bearish trend  is still suggested unless breaching 4.675K and holding above it.

### <center>Sentiment</center>

<center>The short term trend is **Bearish**
</center>

Support 1: 3550.000 level.
Resistance1 :4480.000 level. 

Support 2: 2890.000 level.
Resistance2 :4675.000 level.

Expected trading for today:
is between 3550.00 and 4480.00.

Expected trend for today :  
Bearish.

<center>YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED. </center>

<center>![2.gif](https://cdn.steemitimages.com/DQmNPjqW2znbc1sH1GY3KLqjWQhNDSYw13VFhBnsmhfEWYC/2.gif)</center>

<center>**Writing a series means playing a long game,
investing considerable time and effort up front in
hopes of substantial returns down the road.** 
<center>![writing-pen.gif](https://smoke.io/imageupload_data/c65a2b9f5bca9ce530ee8996eeb9070160ab29c5)</center></center>