Well it's certainly a bearish day in the crypto-market with Bitcoin down approximately 9% and the some of the alt-coins have dropped even further. There is a bearish sentiment with the recent ICO ban in China and now regarding the potential shut down of exchanges, which account for a huge portion of the global trading volume.
Bitcoin is trending in the following direction:
The upper resistance point is around $4400 and the lower resistance point is around $3750. Bitcoin is currently priced close to its lower resistance point, which may be a good buying opportunity.
Looking at the 7-day trends of the alt-coins, these may be buying opportunities, but it's too early to tell without more clarity from China and their exchanges.
Always do your own due diligence before investing!
Cheers!
