Interesting concept @ MARA and miners. How stocks move conceptually, dont need to take it at face value. When public gets in and it's euphoric is a bubble indicator. Perception of stock to fly etc. And then return to earth.
NASDAQ:MARA is back above the trendline and recently broke out of the descending wedge with a measured move of $25. 👀
Good day traders! Are we on the cusp of miners exploding to the upside? I think so!! We are about to embark on wave 3 impulse and based on last cycle, all indicators point to $200 target.
A breakout candle occurred. Now we should build a position at this level. It is struggling to break the EQ level. However, it can find support from imbalances. 18.27-17.64 imbalances worked really well. If we stop out, we should be ready at RL and d imbalance below to become a buyer again.
With the recent rise of BTC you’d think that the miners would move in tandem, one of the problems with the miners is that after the halving their job is going to get 2x harder. As you can see from the recent price action it hasn’t been a good play if tracking the price against BTC. On the 1d chart MARA looks like it’s in the latter stages of a head and shoulders...
NASDAQ:RIOT monthly chart. RIOT, MARA, MSTR normalized to BLX. RIOT almost at March2020 lows, MARA more resilient. MSTR almost taking out 2021 ATHs. TLDR: Rotate MSTR into miners 🙂
MARA stock is in a Head and shoulders bearish pattern with 2 trend lines magnetizing it towards fibonacci 1.618 target to touch the trend lines. We have a bearish rsi divergence on the daily chart confirming huge selling last high around 35 or 30 i believe. Target for h & S is the top to the neckline which again brings us to nearly $7 near the golden ratio 1.618.
There are two type of bubbles and they burst for different reasons? A bubble is when too many people hold something and what has driven prices up, now as a force works against them. There's a saying. Buy things when everyone is a skeptic. Sell when a taxi driver starts talking about investing. There are no more buyers left on top. First bubble is when volume...
Recent bullish action in Bitcoin has crashed the spread between these 2 bitcoin stocks. We see a opportunity to be long the spread for a 19% gain
MARA is in a bearish Head & Shoulders pattern on the bigger time frame of 1 hour indicating a high possibility of success. This would bring the target to around $8 near 7.44 1.618 Fibonacci. If this is the case, it should happen this week, and fast. The RSI bearish divergence at the top of the H & S confirms this.
MARA (Bitcoin mining company I think) stock is currently in a bearish Head & Shoulders pattern. I’m currently in puts and expect this to hit at least $8 next week. This coincides with bitcoin heading to $60,000 and losing steam.
gap filled at $17.5, my previous idea was very successful. Now we ride it back up again ;)
MARA has been heavy with dilution on top of numerous of BTC-correlation traders betting on a run up since its earnings. It's time to come back down to previous channel
In this bull market, it could triple your money. Should stay above 16.25, if it loses 16, then it could go down a lot lower.
Converging patterns, Clean ABCD (equal length drives) off 20$ level, also 4 hour cypher (786 trigger) . This is a decent set up. Long of 20$, tp's are listed. This needs room imo think under structure listed at worst. Use connecting pattern to maximize profits, always Leave runner imo is possible. We have been watching this pattern for a while, patience is key....
MARA looks to be at a good entry point, as long as BTC holds this $70K range. If BTC goes to 100K, then MARA could go back up to the $33-$40 price range.
Lets make a wishfull thinking for MARA to stay in the blue triangle until end of 2026
If you haven`t bought the dip on MARA: Then analyzing the options chain and the chart patterns of MARA Marathon Digital Holdings prior to the earnings report this week, I would consider purchasing the 26usd strike price Puts with an expiration date of 2024-6-21, for a premium of approximately $7.75. If these options prove to be profitable prior to the earnings...