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Breaking: Bitcoin extends Tesla-backed rally beyond $45,000 to refresh record top

  • BTC/USD extends the heaviest jump on record towards $50,000.
  • Tesla's favor to the crypto major adds strength to the market optimism.
  • 50-day SMA offers key support, overbought RSI may probe bulls.
Breaking: Bitcoin extends Tesla-backed rally beyond $45,000 to refresh record top
FXStreet TeamFXStreet TeamFXStreet

Bitcoin bulls are unstoppable around $45,000, following its run-up to $45,064 latest, while refreshing the all-time high on earely Tuesday.

The BTC/USD rallied heavily on Monday after Tesla announced that it had previously bought $1.5 billion worth of Bitcoins, pushing the price to update historical highs of $43K. Even more optimistic is the announcement that the company will consider accepting bitcoin as a payment for its cars.

Technically, the crypto currency leader remains above 50-day SMA and has a strong back-up of MACD. However, overbought RSI condition may warrant the bulls to catch a breather.

As a result, pullback in moves, if any, needs to break below the previous record of $41,987, marked in January, to recall the short-term sellers.

Meanwhile, the $50,000 round-figure seems to gain the BTC/USD bull's attention, for now.

BTC/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price44741.89
Today Daily Change5873.05
Today Daily Change %15.11%
Today daily open38868.84
 
Trends
Daily SMA2034511.8
Daily SMA5032888.24
Daily SMA10025333.44
Daily SMA20018315.72
 
Levels
Previous Daily High39723.86
Previous Daily Low37390.41
Previous Weekly High38758.32
Previous Weekly Low32206.92
Previous Monthly High41987.21
Previous Monthly Low27772
Daily Fibonacci 38.2%38281.79
Daily Fibonacci 61.8%38832.49
Daily Pivot Point S137598.21
Daily Pivot Point S236327.59
Daily Pivot Point S335264.76
Daily Pivot Point R139931.66
Daily Pivot Point R240994.49
Daily Pivot Point R342265.11

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FXStreet Team

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