Chart of the Day
BTC rose above the $50,000 psychological barrier again, proving that the breakout on Tuesday near $50,800 was no spur-of-the-moment. Despite the sharp correction after reaching ATH, strong support in the $48k zone buoyed the price up to levels well above both the 50 and 100 hourly moving average. There is also a breakout above the contracting triangle near $49,500, showing great promise in retesting previous highs near $50,800. And if the momentum continues, it might easily push the price to above $51k, or even $52k.
Talk of the Town
Step aside, Doge, Elon Musk’s just moved his spotlight to MarsCoin. The cryptocurrency was trading around $0.09 in the days before Musk’s tweet, and hit an ATH of $2.50 in the aftermath. The price of MarsCoin has since taken a breather, but is still trading firmly — with an impressive gain of more than 1,000% at the point of writing.