Breaking News: Crazy Spikes in Bitcoin, $4,500 is Gone Now - Forex News by FX Leaders

Breaking News: Crazy Spikes in Bitcoin, $4,500 is Gone Now

Posted Tuesday, April 2, 2019 by
Arslan Butt • 1 min read

Wow what a day! There has been a crazy movement in the leading cryptocurrency Bitcoin. BTC/USD has surged more than 8% dramatically to test the psychological resistance level of $4,500.

Although $4,500 seems pretty strong level, the market is carrying an ultra-bullish power. Honestly, I couldn’t find any fundamental reasons to support the bullish breakout. However, it looks like traders’ buy stops are triggered and excessive demand is boosting Bitcoin’s price.

Next Resistance: $4,600 & $5,000

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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