Bitcoin declined to the $46,000 level after Tesla stated that it stopped accepting Bitcoin as payment for its cars.
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Tesla began to accept Bitcoin as payment in March of this year, so it’s a quick change of direction for the company.
Bitcoin managed to settle above the resistance at $48,500 and is currently trying to settle above the $50,000 level.
In case Bitcoin settles above $52,500, it will move towards the resistance at the 50 EMA near $55,000.
On the support side, the previous resistance at $48,500 will serve as the first support level for Bitcoin.