MARA Head and Shoulders I am still waiting for a MARA pullback.
This is what I am seeing for an entry soon. Under $6 has my focus maybe around $5.50?
Good Luck
M44 trade ideas
$MARA next move = higher $10-12Even though the chart looks like it's forming a H&S top, I think the next move is likely to be higher before we see a breakdown.
I could see $MARA bouncing somewhere between here and $6.80-6.60, then putting in one more move higher to the two resistances above.
Let's see if it plays out this week.
$MARA Banking On The Bitcoin RallyWith Bitcoin rallying more than 37% YTD, bitcoin mining stocks are gaining momentum as sympathy plays to Bitcoin’s price movement. One of these stocks is Marathon Digital Holdings, Inc. (NASDAQ: MARA) which is up 108% YTD as investors are bullish that Bitcoin could be on track to rebound from its lows in 2022. As one of the largest Bitcoin miners in Noth America, many investors are confident MARA stock could be one of the best Bitcoin mining stocks to invest in to gain exposure to Bitcoin’s current rally. Given the company’s solid Bitcoin production growth, the MARA stock forecast could be extremely bullish in 2023 – especially if Bitcoin rebounds successfully.
MARA Fundamentals
With growing inflation and interest rate hikes to curb inflation, Bitcoin dropped to multi-year lows – reaching a low of $15 thousand. At the same time, the collapse of leading crypto exchange – FTX – has not helped with Bitcoin’s drop as uncertainty in the crypto market reached unprecedented levels leading to a major sell-off. As a result of these conditions, Bitcoin mining stocks significantly suffered in 2022 as one of the worst-performing sectors in the market.
Despite this, 2023 has started with a crypto bull run with Bitcoin at the forefront of this rally. Up more than 37% since the beginning of the year, Bitcoin appears to be well-positioned to rebound off its lows this year – driving increased interest in bitcoin mining stocks thanks to their exposure to the cryptocurrency. With this in mind, MARA stock appears to be one to benefit the most from Bitcoin’s rally to start the year thanks to the company’s status as one of the largest Bitcoin miners in North America.
In its latest January Bitcoin production update, MARA reported record production of 687 Bitcoins – representing a 45% MOM increase. This major increase in production is mainly due to MARA addressing the maintenance and technical issues at its King Mountain data center in Texas that hindered the company’s production in Q4 2022. By improving its operational capabilities, MARA has the potential to continue growing its Bitcoin production this year – especially with the company looking to energize more miners this year.
With this in mind, MARA expects to start energizing Applied Digital’s (NASDAQ: APLD) facilities in Garden City, Texas, and Ellendale, North Dakota this quarter. In addition, MARA energized 2100 miners at the Jamestown, North Dakota facility – increasing its operating fleet to nearly 71 thousand Bitcoin servers. Meanwhile, MARA intends to fully energize the 33 megawatts contracted for at the Jamestown facility this quarter which could bring an additional 8900 miners into operation. Through energizing these facilities, MARA is confident it could reach a production capacity of 23 exahashes by mid-2023. In light of this, the MARA stock forecast could be bright for 2023 if Bitcoin continues its rally.
Given the company’s efforts to expand Bitcoin production, MARA’s expenses are set to increase. To mitigate such increases, MARA began an immersion-cooled pilot project in November that involves submerging Bitcoin miners in a dielectric fluid to improve its operating efficiency and performance. Through this new cooling method, MARA was able to increase the hash rate of an S19 J Pro miner by 20% while reducing its power draw by 4%. Moreover, MARA increased the hash rate of an S19 XP miner by 20%.
Based on these results, MARA is confident it could reduce capital expenditure by 10% compared to traditional air-cooled setups and 7% compared to single-phase immersion systems. These reductions could be possible due to eliminating the need for aluminum chassis, heat synchs, and other parts that are not required in dual-phase immersion cooling. At the same time, MARA would be able to reduce its energy costs by 7% compared to single-phase immersion systems since more servers can be racked closely together in dual-phase immersion. In light of these potential cost savings, the MARA stock forecast for the long term appears to be bullish as the company could be on the right track to profitability.
Considering MARA’s increasing and more consistent Bitcoin production, MARA opted to sell 1500 Bitcoin for the second time since its inception to fund its monthly operating costs. As a result of this sale, MARA now holds more than 11.4 thousand Bitcoin – of which more than 8 thousand Bitcoin are unrestricted. MARA also indicated that it may continue selling some of its held Bitcoin in the coming months to support its monthly expenses. As a result, the company would not have to take on debt or issue shares in the future. Meanwhile, MARA ended January with $133.8 million in cash on hand. Through its cash and Bitcoin holdings, MARA appears to be well-positioned for future growth – making it one of the best Bitcoin mining stocks to invest in for the long term.
Meanwhile, MARA is working to expand its operations by agreeing with FS Innovation, LLC to form an Abu Dhabi Global Markets Company. Focused on operating digital assets mining facilities and mining digital assets, this newly formed company will initially consist of 2 mining sites comprising 250 MW in Abu Dhabi. As for its ownership equity, the ADGM company will be 80% owned by FSI and 20% owned by MARA. In this way, the mined digital assets by the ADGM company will be distributed to MARA and FSI twice a month according to both companies’ ownership interests. Since the company would receive extra Bitcoin in addition to its growing mining operations, the MARA stock forecast appears to be bright for 2023 and beyond.
Despite the company’s long-term potential in the Bitcoin mining industry, MARA stock is an attractive investment for several retail investors thanks to its short squeeze potential. With that in mind, MARA is highly shorted with a short interest rate of 45.3% and 58.6% of its float is on loan. Considering the stock’s rising momentum due to Bitcoin’s rally, short sellers covering their positions could trigger a massive short squeeze – making MARA stock one to watch closely this month.
MARA Financials
According to its Q3 report, MARA has $1.4 billion in assets including $55.3 million in cash – which increased to $133.8 million by the end of January. As for liabilities, MARA reported $850.6 million of which $731.3 million are convertible notes due in 2026. In terms of revenues, MARA witnessed a steep YOY decline as it reported $12.6 million compared to $51.7 million. At the same time, the cost of revenues increased substantially to $40 million compared to $10.2 million a year ago. As a result, MARA reported a gross loss of $27.3 million compared to a gross profit of $41.4 million in Q3 2021. Meanwhile, operating costs declined from $63.8 million a year ago to $19.2 million. Despite this, MARA reported an operating loss of $46.4 million in comparison to $22.4 million over the same year-ago period. In light of this, MARA’s net loss widened to $75.4 million compared to $22.1 million a year ago.
Technical Analysis
MARA stock price is currently at $7.07 and has supports near 6.85, 5.24, 4.31, and 3.11. The stock also shows resistances near 9.46, 15.55, and 19.43. Since Bitcoin’s rally in January, MARA stock has been gaining momentum thanks to the company’s exposure to Bitcoin. Considering that the company is one of the largest Bitcoin miners in North America, MARA has the potential to climb further if Bitcoin continues to run.
With the stock trading near major support, bullish investors could enter their positions at the current PPS to capitalize on Bitcoin’s rally this year. However, it is worth noting that MARA is trading below its VWAP and 50 MA which could see the stock retest its 200 MA if the current support fails to hold. In that way, adding shares on retests of the 200 MA could be a profitable investment for investors bullish on the MARA stock forecast.
Although accumulation spiked on Bitcoin’s rally, it is witnessing a slight downtick which could be attributable to investors taking profits following MARA’s impressive run. Similarly, the MACD is bearish to the downside. The RSI also cooled off significantly from 65 to 37 indicating that MARA could be reaching oversold territory. Based on these indicators, bullish investors could watch for the $6.85 support to hold first before adding more shares. MARA has an OS of 116.8 million and a float of 116.1 million.
MARA Forecast
With the crypto market rallying, MARA stock appears to be well-positioned to capitalize on this run thanks to its exposure to Bitcoin. Since the company’s Bitcoin production is increasing consistently, the MARA stock forecast could be extremely bullish if Bitcoin continues to run. With this in mind, MARA is already capitalizing on Bitcoin’s current run after selling 1500 Bitcoin to fund its monthly operations. As the company intends to further sell some of its held Bitcoin to support its monthly expenses, MARA appears to be in a solid financial position given its $133.8 million cash on hand as of the end of January. In light of this, MARA stock could be one of the Bitcoin mining stocks to hold onto for the long term.
Given MARA’s plans to energize its facilities this quarter, MARA could be poised for substantial financial growth if Bitcoin continues this rally as the company would increase its production significantly. Considering that the company expects to reach a production capacity of 23 exahashes by mid-year, MARA stock could be poised to soar if the company reports such growth in its future monthly updates. With the company now expecting to receive additional Bitcoin from the ADGM company once it starts production, the MARA stock forecast appears to be bright for the future.
Watchlist 2023-02-02 #META #GOOGL #AAPL #SIRI #LCID #HBISPY had a shallow pullback after the Fed announcement and continued the day will insane bullish momentum. key indicator before the meeting was spy calls and puts 100 points out. Typically before these meetings, pouts have a premium, but yesterday longs had an 0.80 cents premium. Then, after the announcement there was a quick flush that held the key 402 support. After that it was long all day long. Today, now that it’s past the 410 resistance, look for dips in names with high RVOL breaking key resistance, especially semis that were lagging AMD. Next Res is 420.
The META earnings is a huge catalyst for all the tech sector. META is up 30% so it's a no trade for me but others look good at these levels.
GOOGL - If it can hold above 104.60, (Pivot and 200MA) interested in a long. Might have to wait until the momo settles.
AAPL - Gapping over 146.70 pivot and 200MA in anticipation of earning After hours. . Watching these closely today for any pullbacks. The fakeout below 142 PD is a big indication that early longs were flushed out and shorts were trapped.
SIRI - Gapping down on earning anticipation. If we can hold below 5.70 there could be a scalp momo short there.
Watching LCID above 12.25, MARA over 8.00, both for daily buy setups
Scouting Hourly Lower Highs on MARAWith the break of the $7.90 premarket (now a gap down open) low we know that daily consolidation is underway. Given that BTC is looking for hourly lower highs and that MARA is trading in kind we can look to MARA to see weakness on any short term bullish attempts.
The most likely outcome here is a lower high under $8.50 which would see short term bulls over extended in a range wherein we will be scouting weakness.
Bears still need to prove themselves so as always we will be managing the stops quite closely.
$MARA this weekMARA and Bitcoin have different patterns but are closely linked, each consolidating to continue its big climb. We hope to see it return above $15 USD this week, stay tuned!
$MARA swing trade 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
This afternoon my team purchased shares of digital mining bitcoin company Marathon digital $MARA at $8.60 per share. Our take profit is $14. We also have an optional stop loss at $7.75
Our Entry: $8.60
Take Profit: $14
Stop Loss: $7.75
If you want to see more, please like and follow us @SimplyShowMeTheMoney
MARA A-B-C to wave 2I am expecting wave B of 2 here soon and then a 5 wave structure down to C of 2.
Somewhere within that orange target box.
Also notice the volume is decreasing.
Good Luck
Same old songNothing has been change, the bull trend is intact, just people taking profits and buying again
Scouting $MARA ShortRecent strength in BTC & Crypto has resulted in a strong MARA daily breakout. Bitcoin is due for daily consolidation so we will be watching for signs of weakness and a sympathetic decline on related names like MARA.
Caution as we have not yet seen the weakness we need but we are preparing to react.
For continuation bulls need to break $8.75 and see BTC having similar follow through. Watching for the following
1. Periods of weakness and rejection from intra day levels, possibly $8.75
2. Hourly consolidation with significant advance toward the $7.21 support
4. Loss of the hourly uptrend into daily consolidation.
mara up on btc/usd ratio near optimalFib levels show that if if 8.5 is broken, then big gap ups look possible. dollar/btc ratio is the best that it will be or near optimal. btc will be pumped as market realizes this is the time to purchase. mara holds a lot of btc, so its valuation will increase significantly. new gpus from nvda's will also help mining
chart shows descending wedge with obvious bullish momentum and a possible squeeze
MARA - Mother of all Inverted Head & Shoulders (Bear Apocalypse)Found a hidden Inverted Head & Shoulders on MARA long-term chart that will go down in history as "The Great Bear Apocalypse of 2022"
Watch BTC & Crypto charts closely for entry and ride this rocket into the sun
Keep in mind the BTC halving is in spring 2024
MARA take profitsWave 1 looks to be completing. I have set my S/L to $6 and will move it up as the day progress (if possible). I am expecting a correctional wave 2 to around 50% before the next large impulse up.
Good Luck
MARA short term resistance Short term resistance is 4.18 dollars. This is before the 2pm FOMC mins. Not financial advise.
This is very suspicions price action to me, there is no reason why MARA should be up over 20%. Does someone know something we don't?
- BTC and the NASDAQ are not up very much either
Marathon Digital is the futuretotally kidding but thats besides the point, all these blockchain companies should have some support lower once btc finally turns around so they can show profits again, most of them are mining behind the scenes so once they lose all this value therye a decent punt depending on how you look at things. would keep an eye out and start accumulating this sub $1, good lukc traders
MARA Double Bottom at $5.26 support?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
Mara possible break out. Mara: the more conservative approach in my opinion would be to wait for the gap fill below prior to starting to accumulate as price consolidates and hopefully starts to move to the upside.
only for illustration purposes not trading advice.
Mega bull flag!!!The bull flag is there, so, i think we are waiting for the santa rally or today JP with the rates, get ready!
Looking to pick up some $MARAWe have major confluences around that $2-$2.50 mark. It's is the 1.27 fib level, major support and a measured move.
MARA Long Term Fibonacci As crypto continues to consolidate, MARA is back to the June low level of $5.42. This is only a 50% retracement from the Covid lows to the BTC 69k peak. Wherever MARA chooses to bounce, there is a 100% flip that should follow.
MARA heading down to CI am expecting MARA to head down to lower trend support or wick below to create new lows for the year.
I have placed GREEN lines for great targets to LONG.
I do expect BTC to descend also.
Good Luck
a massive 220%i put a magnet 220% up just in case, but technically we went from a falling wedge to a super powerful flag.
You should buy $MARAABC correction ended @ fibonacci 50% and 1.236 fib extension. And we see an impulse from that level. Marathon is a digital asset technology that supports and secures Bitcoin ecosystem. Expect at least 10X return in the next bull run.
