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.
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
Author
FXStreet Team
FXStreet
