Bitcoin must be supported by a catalyst in order to break above $4,000 and sustain growth past the stubborn $4,200 hurdle. The bulls must gather enough energy to clear the hurdle at $4,207.03. It is now clear that demand-supply trends left on their own cannot support Bitcoin’s much-awaited uptrend. The 4-hour BTC/USD chart shows at least four failed attempts to sustain growth above $4,000 since Bitcoin traded 2019 lows around $3,340. The latest attempt mid-this week saw Bitcoin form a high around $4,057 but lack of strength to push for gains above $4,100 culminated in a sharp drop on Thursday. BTC/USD explored the levels towards $3,900 but found bearing at $3,920.67. A reversal has since occurred from the weekly lows, although BTC/USD is still stuck below $4,000. Bitcoin must be supported by a catalyst in order to break above $4,000 and sustain growth past the stubborn $4,200 hurdle. The confluence detector tool shows the first resistance at $4,000.10. It is highlighted by the previous high 1-hour, previous high 15-minutes upper, Bollinger Band 15′ upper, 100 SMA 1-hour, 100 SMA 15′, the 23.6% Fib level 1-minute, 5 SMA daily, Bollinger Band 4-hour middle curve, 50 SMA 1-hour, 200 SMA 15, the 161.8% Fib level weekly and the 10 SMA 4-hour. Above this level, Bitcoin is likely to sail smoothly past the week resistance zones at $4,041.49 and $4,082.87. The bulls must, however, gather enough energy to clear the hurdle at $4,207.03. An area marked by the previous month high, pivot point 1-day R3 and the pivot point monthly R1. As far as the downside is concerned, the confluence detector places the initial support at $3,958.72. The confluence of indicators at this position include the 10 SMA daily, Bollinger Band 4-hour lower, Bollinger Band 1-hour lower, pivot point weekly R1, the 23.6% Fib level daily, 200 SMA 1-hour, and the 50 SMA 4-hour. The next support target is at $3,875.95 highlighted by the 38.2% Fib level 1′, the 61.8% Fib level weekly and the 200 SMA 4-hour. Below this zone, Bitcoin will not have any strong support zones and could plunge to lows around $3,500 and $3,000. 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 Canada: February headline inflation likely to firm to 1.5% – TDS FX Street 4 years Bitcoin must be supported by a catalyst in order to break above $4,000 and sustain growth past the stubborn $4,200 hurdle. The bulls must gather enough energy to clear the hurdle at $4,207.03. It is now clear that demand-supply trends left on their own cannot support Bitcoin's much-awaited uptrend. The 4-hour BTC/USD chart shows at least four failed attempts to sustain growth above $4,000 since Bitcoin traded 2019 lows around $3,340. The latest attempt mid-this week saw Bitcoin form a high around $4,057 but lack of strength to push for gains above $4,100 culminated in a sharp drop on Thursday.… 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.