### <center>Recapitulation</center>

- Bitcoin price falling under continuous negative pressure into the 3.4K  region and most likely will continue his decline calmly. The recent drop supports our long-term view on action to **3.106K** first and potentially to deeper target at **2.500K.**

 <center>![11.jpeg](https://cdn.steemitimages.com/DQmQYaw3wUiYPebBUjtMAzLpxMCZAz3n948vSto3twaQWzN/11.jpeg)</center>

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

-  Cottonwood Vending LLC, a US-based operator of Bitcoin ATMs, was awarded a coveted license to deal in cryptocurrencies in New York.

- Exchanges are looking at various ways to prevent the proliferation of illegal activities as voice phishing as well as build up of pyramid schemes. To this end, they will be registering all suspicious wallets.

- Iran wants to use cryptocurrencies to circumvent recent U.S. sanctions. The Islamic Republic plans to issue a state-backed cryptocurrency, which it hopes will bypass the existing global messaging system “SWIFT” that facilitates cross-border payments.



### <center>Technical</center>

- The Bearish trend is  supported by the **EMA50**.
- Holding below **3.605K** represents initial condition to continue the expected bearish trend. 

### <center>Sentiment</center>

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

Support : 3106.000 level.
Resistance :3605.000 level. 

Expected trading for today:
is between 3106.00 and 3605.00.

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>