MARA possible moveMara has had a rough few month but is starting to show power again alongside the rise of Bitcoin. If Bitcoin continues to rise and exceeds 50.000 dollars Mara will have strength to break the major resistance in 39.69 dollars.
Marathondigital
Marathon Digital Holdings WeaknessMarathon is displaying one sign of weakness after another. It just broke out of its ascending channel, which disqualified both the lower bullish red RSI buy signals that we got recently, both on the hourly and the daily chart. This is bad news. Real bad. Especially so as it now leaves the daily RSI in a much weak position, one that paves the way for further drops to the downside.
Additionally, what we thought to be an initial ABC Elliott correction seems to rather be a 12345 correction. If Bitcoin were to drop down towards the low to mid 20 000s, then Marathon should stand a good chance of hitting its 5th wave target around the horizontal support at $14,00-14,50.
the 5th wave of Elliott is starting with a $92 targetcypher harmonic pattern:
3-4=0.38 X-3
4-5=1.42 3-4=$92
tp1=0.78 4-5=$26
tp2=1.27 4-5=$11.86
tp3=0.78 X-3=$5.76
tp4=2 4-5=$3.67
Quick ChartCup and Handle? With more volume, potential breakout. Heck, nowadays everything is a potential breakout LOL
MARA Marathon Digital Holdings $70 option callsInvestors in Marathon Digital Holdings, Inc. MARA need to pay close attention to the stock based on moves in the options market lately. That is because the Apr 16, 2021 $70.00 Call had some of the highest implied volatility of all equity options today. (zacks.com)
The indicators are still looking bullish on the daily, despite today`s correction.
So is MARA a still a buy???
Market Cap 3.879B
I am looking forward for your opinion to make a decision myself.
If you missed my comparison to EBON:
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