During last few months, a lot of predictions were saying that Bitcoin could reach $5000 before the end of the year. Finally the expected day has arrived, Bitcoin was this morning being sold on localbitcoins.com for $5250. This price has triggered a big sell off in all the cryptocurrency market. The $5000 seems to be a tough psychological barrier now. We have seen during the last month a big increase on the total market cap, is normal to see now a correction as some investors wants to take profit from this big move up. So let’s see now how the 4h candle stick chart is showing to prepare in advance for what’s happening.

As we can see, while the price is between the two white lines, the trend is not changing yet, but the price is getting closer and closer to the lower line, so If the price breaks down the 3875 euros line, that is highly probable to happen, the down trend would be continued in the long term. Also, we can see that the MACD indicator is moving down confirming the possible down trend.

Today’s trade recommendation is to take out some profits and buy back in when the MACD stabilizes as price is expected to follow down to lower support levels.

IMPORTANT: Never invest money you can’t afford to lose. Always do your own research and due diligence before placing a trade.

If you want to keep up with our latest news please:

Download our free Android App
Hang out with us in our Slack
Follow Crypto-X on Facebook
Follow Crypto-X on Twitter
Follow Crypto-X on Steemit
Follow Crypto-X on Reddit
Follow Crypto-X on Medium

Donations:

♥ BTC: 14a9FrErT8j3Pp6iJSurXsrNkSqrirV7qe
♥ ETH: 0x5f982128fe96560544feef7edfbf503ab17a134f
♥ LTC: LQPkLe6xYhBxU4knEYP7rACUfj3aevfPtU