Since our initial investment in Marathon Digital Holdings NASDAQ:MARA in early October 2023 at $7.31, the landscape has dramatically transformed, propelling Mara to a striking $33.77. However, the journey hasn't been devoid of challenges, notably the three-month sideways movement troubling the stock and a pervasive sense of FUD (Fear, Uncertainty, Doubt) among later entrants lacking substantial unrealized gains. This period has ignited queries regarding Marathon's performance divergence from Bitcoin, especially when contrasted with entities like Microstrategy NASDAQ:MSTR, which leverages Bitcoin's movements more directly.
The Short Squeeze Anticipation Amidst a Bull Market
A critical aspect influencing Mara's trajectory is the significant short interest, temporarily curtailing its ascent. However, the notion that short sellers could thrive unscathed in a bull market is quickly dispelled when considering the potential for a short squeeze. Market makers are poised on the edge of their seats, anticipating the revelry as Bitcoin aims for the $80-100k mark, setting the stage for a triumphant rally.
The Path to Parabolic Growth
Expectations are set high with a projected parabolic surge leading to an intermediate target of $84, following a minor correction. The ultimate aspiration harks back to the inaugural high of $234 in 2012, a benchmark set at the dawn of Marathon's journey. While this target appears ambitious from the current vantage point, the culmination of a parabolic trend's force could make it a tangible reality. As always, this ideal scenario warrants meticulous analysis at each juncture, with adjustments made as necessary.
Technological Innovations Paving the Way
An unforeseen variable in many analysts' projections is the technological advancements driving Marathon forward. The recent announcement of the MARA 2PIC700 cooling system for Bitcoin mining rigs marks a significant milestone, underscoring Marathon's commitment to innovation in both software and hardware domains. This development not only enhances the operational efficiency of Bitcoin mining activities but also positions Marathon as a frontrunner in adopting and advancing technology within the crypto-mining industry.
In summary, Marathon Digital Holdings presents a compelling narrative of growth, innovation, and resilience. With a keen eye on Bitcoin's trajectory, technological advancements, and the broader market dynamics, Marathon is poised for significant movements. Investors and observers alike should stay attuned for updates, as the journey of Marathon Digital Holdings unfolds in fascinating and potentially lucrative ways.
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On the daily candle, the MACD crossed bullish today and the RSI touched 50. It looks promising :)
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Don't get shaken out till halving ;)
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The supertrend daily bearish indicator got demolished today at $19.36
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Updated NASDAQ:MARA Chart with the Daily Supertrend Indicator
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Looking through the Ichimoku lens on the weekly chart, we can see that NASDAQ:MARA tested support around $15 and saw a bounce higher. This can be seen as a positive momentum. However, it is not yet in clear waters. Neither on the 4-hour, 1-day, nor weekly chart. The key resistance level in all timeframes is around $22. If these levels were to fall and hold as support in the coming weeks, it would be a significant milestone towards new all-time highs in this bull market.
$234 was never the real ath. You need to look at market cap. They had a stock split. The ath was hit last cycle per market cap at $86
ChartScope
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@satiev1 doesn’t matter. Chartwise it's in reachable territory with Fibonacci and the wave count. Going step by step $86 should be our more important first goal.
shivamkakkar2312
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@ChartScope What’s youe daily chart as of say rn. Which wave are we in?
ChartScope
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@shivamkakkar2312 we are in a Big 1/2, Small 1/2 Setup. In no time there will start the small wave 3 subwave. Waiting for the rocket to push it!
shivamkakkar2312
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@ChartScope, Today, it did look promising, Probably a daily higher high once we passes 23.10-25.00
ChartScope
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@shivamkakkar2312, yes, but the waters are still choppy and MARA still has to convince us over the next few days. there is still some resistance in the area you mentioned. Once these have been cleared, the daily could reach $45.
ChartScope
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It's like pressing two springs together and then releasing them
alexandrahitschler
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Yeah i wish it would reach $80. However, such a large outflow into ETFS that miners decrease in price even with a big halving bull. Also, stock splits increase number of shares making profits diluted
Thank you for sharing.