Similar to my thoughts on NASDAQ:RIOT, I also think NASDAQ:MARA likely has another leg down before starting the uptrend higher.
I think most likely scenario is price tests the $10.43 level once more, rejects, and falls to retest the lows.
After retesting the lows in the gray box, then we start the real rally higher.
If this idea does play out, my current thinking is that the rally higher would be quick in early December hitting between $16-20 as the final move higher.
This idea lower would be invalidated on a move higher than that $11-12 region.
Let's see what happens.
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Broke $12 so invalidated. That said, I do think we could potentially retrace from these levels back to low $9-10.55 now, before $16-20. So if that were to happen, it's a good place to add.
I see the same thing.. I thought it would tease filling the price gap around $12.30, but now I don't see that happening until after it bottoms around the lower end of your target range. I'm short, temporarily. Bitcoin doesn't need to serve as an inflation hedge until CPI comes in hot after December's potential holiday season spike, and it sure looks to me like it's top has been put in. Mara should follow and fall.
binglis34
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I'm amazed nobody sees the correlation between btc miners and the Russell index. Notice miners didn't start pumping until Russell stopped lagging a few weeks ago