I have been reading a lot on social media about MARA that its going to go bullish from the current position but i have a different view, not my personal view but what i see on the chart. There's a buying zone around $24-$25-ish so i has a higher probability to dip down a little, grab the liquidity and fly back up. I could be totally wrong, if i am then i would love to be educated. Always up for learning new things.
I know NOTHING, but I could totally see that happening. If it does, I would say BUY! This post caught my eye because I love trading this little beast. I've been trading MARA since 2016. I got totally cleaned out of my calls in 2017 but have held a fair amount of the stock since. I got SUPER lucky acting on a total hunch and purchased a few dozen 1/21/2022 $10 calls back in October for pennies. Should I add more calls, say $50'ish OTM's if it dips to 24? I dunno maybe that's just being too greedy? GO MARA GO!
nakarmi
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@GiveMeSkinny4Sho, yes start buying after it gets down to $24 -$25 its a fair price for MARA. even if it goes down averaging would be a good idea. Bitcoin is getting a lot of traction so its worth it. Regarding options, i would start buying once i see some momentum and volume.
AntonioMartinezArbizu
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it pedends, as always. Looking at the chart, there is a strong resistance around $29 which you are somehow disregarding.
nakarmi
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@AntonioMartinezArbizu yes i have drawn a resistance line around there but i was thinking how long is it going to hold, its just a probability keeping all the possibilities open. Thanks.
pechi123
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Last night Bitcoin broke above the sideways channel it was in since Friday morning giving it an impulsive look to the upside. MARA is up 7.77% premarket.
nakarmi
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@pechi123, I never said it wouldn't go upward, the reason i said it would go down a bit more on MARA was there was a possible downward move coming on bitcoin that would Drag MARA downward too but the drop on BITCOIN happened after-market and reversed before the market open which means MARA has no business going down when BITCOIN is bullish. If that drop on BTC was on regular trading hours then the drop on #MARA would have exceeded past my buying zone. You can check the time i posted my analysis and the drop on BTC.
pechi123
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@nakarmi, It topped at 57.75 4/6 but Bitcoin topped 8-9 days later. This has happened before (at the 49.41 high) that MARA tops before Bitcoin. Clearly underlying Crypto influences the trend but each has their own pattern, it's all about timing and knowing the pattern. I provided you with excellent analysis real time last week into a low, be careful to not bite the hand that feeds you. Today MARA is up nearly 11% while Bitcoin is down on day, but in the same trading range as yesterday, obviously something else is going on that can't be explained by simple correlation. I never said that you said MARA wouldn't go up, you're obviously dealing with an issue not based on anything I said.
nakarmi
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@pechi123, Its pretty clear we have different trading strategies and techniques, so far its been good with me and i would like to keep it that way. If my analysis doesn't work, i can live with it (not that it works all the time) also i am not betting my farm on one trade.🤷🏻♂️ Anyways thanks for your input. Good luck with your trades.
pechi123
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Premarket though it traded under its' the 3/25 low 29.57 it is now slightly above, premarket doesn't count chart wise. Bitcoin may have bottomed overnight and is in a triangle completing or in the process of wave (c), if it trades higher and MARA doesn't violate 29.57 then what we have is a very deep 2nd wave, but wave (a) is at the 3/5 low 24.11, there is room for to trade lower without violating the triangle concept. If correct in either scenario, wave (d) up will be the next move to a little under the (b) top 57.75, then wave (e) lower to above (c), if this triangle plays out when (e) is done there will be a terminal thrust to new highs that will complete a 5th wave at much higher prices. When 5 is complete MARA will fall back to the base 24.11, or lower probably into the teens.