The main factor that accelerated the market decline was a message from the securities and exchange Commission (SEC) about the postponement of the application for the launch of bitcoin-ETF from VanEck and SolidX on February 27. The SEC used the maximum time allotted for the consideration of this question, and, therefore, on the 27th of February is the final date.
The flagship of the cryptocurrency market-Bitcoin-once again updated last week its annual minimum, touching the$ 3200 mark on some exchanges. Indicative is the fact that on December 7, a record number of applications for the sale of Bitcoin on the Bitfinex exchange in the area of 43,000 were noted.
If we talk about technical analysis, then the H4 level 3550, which previously acted as a support, is currently an actual local resistance level. The role of flexible resistance continues to play an exponential moving average EMA 50. At the moment, you can hold an inclined level of support by breaking through which the asset will continue its downward movement.
