Bitcoin with Musk’s support

The price of bitcoin rose by 10.2 percent last night after the executive director of “Tesla,” Elon Musk, tweeted that this manufacturer of electric vehicles could again accept the payment for the purchase of a car with this cryptocurrency in the future. Since the beginning of the year, the oldest digital coin in the world has grown by more than 30 percent, although its current price is far below the historical record of 64,829.14 dollars reached in April, CNBC reports.
The latest growth followed Mask’s message on Twitter yesterday that “Tesla” will continue to allow vehicle buyers to pay with bitcoin “when the positive future trend of using a rational 50 percent of green energy for its mining is confirmed.”
In mid-May, Tesla stopped paying for the purchase of cars with bitcoins, citing concerns about the impact of cryptocurrency mining on the climate.
Crypto-mining consumes huge amounts of energy (mostly produced from fossil fuels) to power powerful computers. According to the Cambridge bitcoin electricity consumption index, mining this virtual currency consumes more electricity than some entire size countries such as Finland and Belgium.
Looking at the chart on the daily time frame, we see that yesterday we had a price jump of over $ 3000. our technical support is at a 23.6% Fibonacci level. After this jump, we now expect that BTC has the strength and goes over 38.2% Fibonacci levels to $ 40,685. For now, Bitcoin also has support in the moving average MA20, and based on it; we expect further price growth towards other higher moving averages towards MA50 and MA200, which are above 38.2% levels and above $ 40,000. We have a bullish signal at the MACD indicator, and we can expect this week to be bullish for Bitcoin.