TradingView
KristianPumpz
Mar 30, 2021 12:37 AM

MARA Double bottom reversal 

Marathon Digital Holdings, Inc.NASDAQ

Description

Extremely bullish on MARA with the market showing signs of life I expect this to be another great week for MARA.
Comments
pechi123
The recent low was on 3/5 @ 24.11, approximately 3 weeks ago, and earlier today after hitting it's 52 week high it backed down and now is at new 52 week highs so far 50.21, just over doubling from the 3/5 low. Compared to RIOT percentage wise MARA is outperforming. Seemingly the wave 3 highs in both stocks RIOT clearly outperformed with an extended wave. I believe this is the beginning of an extended 5th wave for MARA and Riot's 5th will not be extended but either proportional to wave 1, or .618 times 1. This I base on guidelines of alternation, and wave relationships. This doesn't mean that these stocks won't trade lower from here, it's still possible Bitcoin is in a triangle with its' recent 50K low being a wave C, if it is forming the top of D now then it will make another low probably over the recent 50K but definitely between A (43K) and C, sometimes wave E can go lower than C though not usually the case. If Bitcoin comes over the all time high before an E low, then it's a completed correction having tested 62.8% of wave 3 @ 50K. Being that the correction was deep I expect it will resolve more bullishly than a shallow correction.
More