It's been a difficult time being a Mara/BTC miner holder the past few weeks, as BTC has hit ATH's and the miners have counterintuitively been crashing and burning..
No one was expecting the BTC ETF to have the demand that it did, there just isn't enough BTC out there, post halving this will get even tighter. Historically, once previous cycle ATH's have been breached the average time for BTC to double in price is c.70 days, if this holds true we are going to see a $140k BTC by the Summer.
With that backdrop, moving onto the Miners, Mara was way over-extended and had run up too hard (As seen by the large bearish divergence on the RSI), it needed to cool down, this is just reversion to the mean and I can see it falling further to the $18-19 levels where there is historical support. I think at these levels it is a big buying opportunity and I can see this going far higher - $40 by end of April is where I see this going. The weak hands are being flushed out and it is supercharged and primed for a move higher! Let's see how it plays out :)
No one was expecting the BTC ETF to have the demand that it did, there just isn't enough BTC out there, post halving this will get even tighter. Historically, once previous cycle ATH's have been breached the average time for BTC to double in price is c.70 days, if this holds true we are going to see a $140k BTC by the Summer.
With that backdrop, moving onto the Miners, Mara was way over-extended and had run up too hard (As seen by the large bearish divergence on the RSI), it needed to cool down, this is just reversion to the mean and I can see it falling further to the $18-19 levels where there is historical support. I think at these levels it is a big buying opportunity and I can see this going far higher - $40 by end of April is where I see this going. The weak hands are being flushed out and it is supercharged and primed for a move higher! Let's see how it plays out :)