MARA
BTC Bullish Pennant formed on the 1 hour! Next leg up to 50k?What's up guys, been away over seas I am back! I see a lot of fire going on lately with stocks and Crypto!
Bitcoin is SUPER Bullish and I believe this pennant is setting up for a major break out to 50k+!!! Or it can correct down a little more and than go back up! Its hard to tell.
Lets play it out! Deffinitely fireworking next few days coming!
A low-value stock FTFT have a greater assets and potentialI checked the announcement of Future Fintech Group (NASDAQ: FTFT). In the past six months, they have successively issued announcements to acquire Hong Kong Nice Talent Asset Management, Sichuan Tema supply chain management, Indonesia Asiasens Investment Holding and Bitcoin Bank in the Caribbean, Blocknance etc, but none of them seemed to have officially completed the acquisition. As a small retail investor, I called to ask about this. Their staff answered mainly because of the Covid-19, which prevented the due diligence from being implemented as planned. The approval of the local government of the acquired company was also delayed due to the Covid-19.
However, it should continue in the near future. M&A will be completed. I personally think that FTFT itself is a blockchain concept stock. The stock price has recently risen with the skyrocketing of Bitcoin; once these acquisitions are completed, the stock cannot rise 10 times? I have listed these announcements. What do my friends think? Let's discuss it together. Maybe there is another GME hidden here.
Intermarket Analysis of Bitcoin and Major Bitcoin Miners1st we should look at the definition of Intermarket Analysis:
Intermarket analysis is a method of analyzing markets by examining the correlations between different asset classes. In other words, what happens in one market could, and probably does, affect other markets, so a study of the relationship(s) could prove to be beneficial to the trader.(Investopedia)
Instead of looking at financial markets or asset classes on an individual basis, intermarket analysis looks at several strongly correlated markets, or asset classes, such as stocks, bonds, currencies, and commodities. This type of analysis expands on simply looking at each individual market or asset in isolation by also looking at other markets or assets that have a strong relationship to the market or asset being considered.(investopedia)
Intermarket analysis should be considered fundamental analysis in that it relies more on relationships to provide a general sense of direction, but, it is often classified as a branch of technical analysis. There are different approaches to intermarket analysis, including mechanical and rule-based.(investopedia)
After talking about the definition of Intermarket analysis, let’s see how Bitcoin rallies affect the stocks price of the major North American Bitcoin miners Marathon Patent Group (MARA) and RIOT Blockchain.
This bullish rally started on March 13th , 2020. So far Bitcoin scored from 3850 to 46000 and rewarded the investor astronomical return. But if you look at the return of MARA and RIOT, all of a sudden you will noticed that the very similar correlation exists between Gold price and Gold miners stocks is present between Bitcoin and Bitcoin miners stock price.
I published many articles about this in the last 4 months, when Bitcoin was 12400, I predict the sharp move, and asked people to invest in Bitcoin instead of trading it for the next 2 years..!
Any time we had a correction, I said don’t panic.
But at the very same time, I published my view on RIOT and MARA, and wrote that if there is going to be a Bullish rally, miners will win the race!
Now you can see that how true it is. Don’t ignore this correlation..!
Moshkelgosha (SniperTrader)
KMPH goes to $15-20 off PDUFA hypeI am only playing the run up, but it has been said it is very likely FDA approves their drug.
My run up target before March 2 is $15-20.
MARA Wave 5MARA currently in its wave 4 ABC correction and looks to tap the .236 retracement. Ideally, the price would come closer to the Daily Ichimoku cloud before entry. MARA follows Bitcoin very closely in price action and the run is not over yet. Price falling below $15.15 would need to adjust the Elliott Wave Count.
I'm feeling great about it!If it can break above $24.22, we should see a pretty nice break out. No, I don't have a price target. We have several things going for us.
One being that someone just pulled half a billion dollars worth of Bitcoin out of Coinbase and stored it on a cold storage device. That means the trading supply just went down, and the demand for BTC goes up. Just think, a week ago MARA bought 150 million in bitcoin. AND, they just bought a crap ton of mining equipment.
Second, Mike Saylor is hosting a conference with major institutions that should be available for free to the public after February 4th.
Ladies and gents, I hope you got in last week :D
Correction pattern in MARA, watch for upward breakout!By looking at MARA chart you will soon notice the repeated pattern of correction (3times, 33%).
This is very usual in rapid bullish trends, and if you learn how to deal with that, it will change your game!
Yet this pattern repeated so many time in so many stocks, another good example could be PLUG, check my analysis when it was 15 dollars
Missed $BTC? Buy $MARA!Last week we saw a shakeup in the crypto world with $BTCUSD falling below 30k. BTC has been awfully resilient and bounced right back. $MARA also took a hit and got down to $15 where I alerted a buy in my group, link found bio.
Load shares here and ride it up to all new ATHS in the next coming months. Enjoy :)
OSTK Break out Long IdeaOSTK, looks to be breaking out of a wedge pattern. These are usually bullish.
MARA - Still Hodling / FlaggingKeeping this short and sweet. Watch the fib levels and watch for a break up and out of the flag.
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This content is for informational, educational and entertainment purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
MARA 1/18 Trade Idea and ProjectionsMARA sympathy play with BTC
BTC:
Bull flag (symmetrical wedge) on Daily
Reversal price action respecting bottom trendline (2 wicks w/ small bodies)
20 SMA coming up for support
$1.9T stimulus packet proposal, decreasing USD
MARA:
Bull KL's: PLOD, PHOD, 22.40, 23.00
PT: 24.50, 26.19
MARA TAKING A HIGH RISK TRADEThe Company: Marathon Patent Group focuses on mining digital assets. It owns cryptocurrency mining machines and a data center to mine digital assets. The company operates in the digital currency blockchain segment and its cryptocurrency machines are located in Canada.
I'm taking a high risk trade here so I limited the position size to 1/3 of my normal position size for a stock. Mara has the potential to consolidate due to company raising capital by share offering.
I missed the last cryto rally and felt locked out but I believe that there is still room for growth here.
This is just what I am doing and is not investment advice.