This current sideways trading is likely to continue taking center stage throughout this week. After the stability, a breakout is expected to send the price above $4,000 and push it towards $4,200. The cryptocurrencies market has been avoiding big movements either side since the previous slide that sent Bitcoin back below $4,000. Prior to the drop, the largest cryptocurrency by market capitalization had formed a 4-week high around $4,057. The 4-hour chart shows that bear pressure is canceling out the bullish pressure. This current sideways trading is likely to continue taking center stage throughout this week unless Bitcoin encounters a market mover (catalyst). According to the confluence detector tool, BTC/USD must clear the significant resistance at $3,992.97. This zone is highlighted by a confluence of indicators including the previous high 15′, previous high 1-hour, Bollinger Band 15′ upper, previous high 4-hour, Bollinger Band 4-hour Middle, 10 SMA daily, Bollinger Band 1-hour upper, 200 SMA 1-hour, 100 SMA 1-hour. 50 SMA 4-hour, previous high daily, Bollinger Band 4-hour upper, pivot point daily R2, 61.8% Fib level weekly and the 161.8% daily. If Bitcoin manages to clear this level, a breakout is expected to send the price above $4,000 and push it towards $4,200. On the downside, various support areas have been established to prevent the digital asset from trimming its value in the event declines progress. Initial support is seen at $3,951 and is host to the 100 SMA 4-hour, previous low daily, pivot point daily S1 and the 23.6% Fib retracement level weekly. Other support levels are $3,786.31 and $3,703.69. 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 Bannockburn: GBP vulnerable to headline risk FX Street 4 years This current sideways trading is likely to continue taking center stage throughout this week. After the stability, a breakout is expected to send the price above $4,000 and push it towards $4,200. The cryptocurrencies market has been avoiding big movements either side since the previous slide that sent Bitcoin back below $4,000. Prior to the drop, the largest cryptocurrency by market capitalization had formed a 4-week high around $4,057. The 4-hour chart shows that bear pressure is canceling out the bullish pressure. This current sideways trading is likely to continue taking center stage throughout this week unless Bitcoin encounters a… 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.