The buying continues in the digital currency.
The story today is bitcoin after Elon Musk, and the Tesla Corp. first pumped up the digital currency over the weekend in tweets and then announced that they had bought $1.5 billion of bitcoin. They will also accept bitcoin as payment for their vehicles.
The price surged extended above the high price from January $41,986.38. That is now close support. The price on coin base raced up to $44,900 today – just short of a row number of $45,000. The price currently trades right around the $44,000 level.
Looking at the daily chart of the digital currency from Coinbase (using a 7 day trading week), the low cracked price in January stalled right near its 50 day moving average and bounced (see white line in the chart above. For longer term traders stay above that moving average increases the levels of importance going forward. It currently stands at $33,240.48.