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 trade ideas
$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
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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 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
$MARAToday while almost all of crypto crashed $mara miraculously held up. After TERRIBLE earnings that showed they are burning money and $BTC nosediving somehow this thing was green today. BTC literally broke below 2 year lows and this puppy barely budged. The relative strength to any other crypto related stock or cryptocurrency was absolutely insane. I sense that its being manipulated heavily. Even so the facts are there is no way this thing shouldn't have tanked. While green I added a lot of 11.5 11/25ps. Still have some 11.5 11/18 Ps I bought yesterday. I gave myself more time today just incase somehow this thing rips. There is a huge volume gap below plus a huge volume shelf above that is going to make for some tough resistance to breakthrough. On top of that I think we have awhile before all this FTX mess is settled. Crypto market is spooked with a lot of money is tied up and any trader thinking logically should be very fearful of this space until things become more clear imo. This one is almost so obvious that it makes me nervous I am missing something. Am I missing something?
MARA | Its About that Time | LONGMarathon Digital Holdings, Inc. operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund. The company was formerly known as Marathon Patent Group, Inc. and changed its name to Marathon Digital Holdings, Inc. in February 2021. Marathon Digital Holdings, Inc. was incorporated in 2010 and is headquartered in Las Vegas, Nevada.