- 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).