Fundamental: The price of bitcoin reached as high as $48,000 on Tuesday, building on gains following news that electric-car maker Tesla has invested $1.5 billion in the cryptocurrency and may accept it as future payment for products.
Musk’s Tesla says it invested $1.5 billion in bitcoin, sending the cryptocurrency to record levels near $44,000
Technical : Bitcoin can easily reach 50800 and 54000 for next target and its getting so strong but as we can see on Fibonacci retracement it can test 50% of Fibo structure on 43600 or even it can retest previous resistance that break (40K) that is now Strong support .
for adding more long position on it the best area is buy zone as you can see and if touch again .
Trader let me know your opinion by your comments below .
Thanks for the great analysis and the updated very useful info.
BTC recent price action owes a lot to the "Elumps" (Elon Musk pumps), for sure.
Really like your fib levels too.
@BelowZero, it seems that we get support on 0.50% of Fibonacci as we expected we can see bull caqndle from this area or retesting 0.50 of fibo again what do u think😋?
BelowZero
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@MMBTtrader, Absolutely agree with you.
It is impossible to argue with such "clean" charts. They are almost talking...At least I have long conversations with them :)