peterbhc

MARA Double Bottom at $5.26 support?

Long
peterbhc Updated   
NASDAQ:MARA   Marathon Digital Holdings, Inc.
Will MARA turn around here and begin to climb?

Looking at the price structure $5.26 has been a pivot price range.

Depending on the daily close above $5.26, I expect MARA to perform a double bottom for 2022.

Good Luck
Trade active:
I entered LONG at $5.10
Comment:
added to positions at $4.90
Comment:

Let's see what today brings, but this could begin a reversal?
Comment:

Watch for the weekly close today. Currently MARA is printing bullish divergence.

The price range has descended below the previous low this year (A) to complete C.

I am expecting some bullish reaction down here and begin another 5 waves up. Let's see
Comment:

Notice the Cloud and the 50% retracement. I believe that after a wedge breakout and following the declining selling volume, MARA should test the 50% retracement (that today is just above $9.50) to test previous support.
Comment:
I am monitoring for a daily close above $5.26 for bullish continuation
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