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

There has been a crazy movement in the leading cryptocurrency Bitcoin. The [[BTC/USD]] has surged more than 8% dramatically...


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

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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