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