Yesterday, the cryptocurrency reached a high of $4932.9. However, selling at the highs has pushed Bitcoin back below the $4800 levels. As the digital currency is trading above $4680, chances are that it will again attempt to breakout to new highs soon.
If the bulls are successful in sustaining above $5000, the cryptocurrency is likely to gain momentum, and it will indicate the start of a new uptrend. Therefore, we recommend holding the existing position with a stop loss of $4500.