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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.

FXStreet Team FXStreet

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 price	44741.89
Today Daily Change	5873.05
Today Daily Change %	15.11%
Today daily open	38868.84

Trends
Daily SMA20	34511.8
Daily SMA50	32888.24
Daily SMA100	25333.44
Daily SMA200	18315.72

Levels
Previous Daily High	39723.86
Previous Daily Low	37390.41
Previous Weekly High	38758.32
Previous Weekly Low	32206.92
Previous Monthly High	41987.21
Previous Monthly Low	27772
Daily Fibonacci 38.2%	38281.79
Daily Fibonacci 61.8%	38832.49
Daily Pivot Point S1	37598.21
Daily Pivot Point S2	36327.59
Daily Pivot Point S3	35264.76
Daily Pivot Point R1	39931.66
Daily Pivot Point R2	40994.49
Daily Pivot Point R3	42265.11

Author

FXStreet Team

FXStreet

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BTC/USD daily chart

Additional important levels

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