Bitcoin corrected above $3,900 but failed to sustain growth towards $4,000. Bitcoin must sustain growth above $4,000 to give the traders confidence that $4,000 is achievable. The crypto market has remained unchanged in spite of the news that CBOE is putting Bitcoin futures on hold. Bitcoin has been lethargic below $3,900 since the beginning of this week. Over the last weekend, the asset corrected above $3,900 but failed to sustain growth towards $4,000. The trading yesterday saw the bulls fall into a bear trap: BTC/USD spiked briefly almost touching $3,900 but quickly turned around canceling the gains. The largest crypto tested the short-term support $3,700 before correcting higher above $3,850. At press time, Bitcoin is exchanging hands at $3,851 within the 50 SMA resistance and the 100 SMA support 4-hour chart. As discussed before, Bitcoin must sustain growth above $4,000 to give the traders confidence that $4,000 is achievable. However, the traders are likely to get exhausted holding the position above $3,800 and are likely to sell. This is likely to create more supply and less demand. Bitcoin price will react by exploring the levels close to $3,500; a move that will create more demand and reverse the trend upwards. Meanwhile, Bitcoin is supported by the bullish trendline; other support levels are $3,800 and $3,700. The RSI is horizontal at 51 while the MACD is flat out on at the mean line (0.0). Bitcoin sideways trading is likely to last longer as market activity reduces. Read more on CBOE Bitcoin futures: No more Bitcoin futures on CBOE, crypto market doesn’t care BTC/USD 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next ECB’s Rehn: Eurozone growth not headed for a recession FX Street 4 years Bitcoin corrected above $3,900 but failed to sustain growth towards $4,000. Bitcoin must sustain growth above $4,000 to give the traders confidence that $4,000 is achievable. The crypto market has remained unchanged in spite of the news that CBOE is putting Bitcoin futures on hold. Bitcoin has been lethargic below $3,900 since the beginning of this week. Over the last weekend, the asset corrected above $3,900 but failed to sustain growth towards $4,000. The trading yesterday saw the bulls fall into a bear trap: BTC/USD spiked briefly almost touching $3,900 but quickly turned around canceling the gains. The largest crypto… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
