Bitcoin Fundamental and Technical view
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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 .
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 .
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t.me/mmbtchannel
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
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