The failure on 3/28 @ 32.74 to take out the 1/4/22 high 35.48, the consequent break of both 19.79 & 19.41, and today the 5/13/21 low @ 18.32 has put nails in the coffin of MARA. If Bitcoin holds the 4/18 low @ 38,694.30 there is still a bullish chance to rally significantly higher in a potential bullish triangle, otherwise if this level is broken then there's potential to low 20K or beneath. MARA could fall to mid $16-$5.
@BallaJi, The monthly candlestick pattern for stock indices points lower for another 3-5 months. Even if Bitcoin bottoms and maintains a bullish triangle formation there's no assurances that mining stocks won't continue their slide with the rest of the market especially the technology sector. Looks like right now were headed in a big 3rd wave down. If Bitcoin breaks the July low that will break wave A of the potential bullish triangle and point to the November high as not a B wave but the top of wave 5, and a much larger correction will ensue.
BallaJi
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@pechi123, Yea Man. I still believe in the 4 year cycles. (could be the last one that has any meaningful significance) .What will be interesting if Bitcoin observes the typical 80%+ drawdown... which lines up with the H&S projection down to 15K. Michael Saylor has to go underwater on his position is what I need to see. Then we can observe how he behaves, and how his board of directors & sharholders behaves.
pechi123
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@BallaJi, Until the Whales capitulate, and put their Bitcoin back on the market there will not be a meaningful low. Right now (Friday's data) they were still holding, but a break of the potential bullish triangle would do that, wave A @ 28,957.79, wave C handily broken today making today's low the new wave C as long as wave A remains intact. intact. With the prior C wave low violated I suspect Whales will begin putting their coins on the exchange.
pechi123
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The prevalence of Crypto commercials during the Super Bowl was a tell that a major top was in place at the November high.