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:

<center> ![](https://steemitimages.com/DQmWkEwwhe9hSpRm5RTtj2T7iTBntUywdViFiMgPFGincdD/image.png)</center>  

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. 



<center>![](https://steemitimages.com/DQmZJ4UxMzwt7Uywb9qTChLwihxbCAa7FexiApuBGQZBmDs/image.png)</center>

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!