MARA - Deploy The Lifeboats 😱🙀❗❗Before posting this I did check through the first page of most recent and most popular threads on MARA and it was very interesting to see that every one of them is "LONG" MARA.
So this is a contrarian thread.
And why is that?
Well aside from the skill it takes to make a correct bearish call mid bull market; MARA is a fanboy hype stock.
Most of the posts are based in "technicals" funded by hope .
Hope is not a trading strategy.
Its very interesting because the no.1 Bitcoin miner has looked ugly for quite a while and there have been multi-time frame bearish divergences.
These days TradingView is even kind enough to highlight some of those divergences, but yet apparently no publishers have noticed them.
Yet again they are all too busy looking at the stars ✨.
The blind leading the blind.
Bitcoin slumped today and altcoins took quite a hit.
But MARA was already rolling down the hill for some time and continued today.
So the question; if MARA is plunging while Bitcoin is still yet to reach a conclusive top...
Where will it be if/when Bitcoin does turn bearish ❔
Where will it be at the end of a Bitcoin correction ❓
Probably not all the way up here.
I called this as a weak 1:0.786 three wave correction when MARA was up @$21 back on March 24th.
And so we'll see what how Bitcoin fairs over the weekend.
But I have deep targets for MARA.
Not advice.