Bitcoin broke down out of my ascending triangle yesterday. Big bummer. If we can't reclaim $64,000 soon, we're falling down into the 6 month descending channel to the $53k range. I'm out of positions until we either break up out of the channel, or touch the bottom and hold $52k.
Just publishing this so I can (hopefully) look back at it when I'm a millionaire. This stock is trading at less than 1/3 book value, previous merger offer was for over $30/share, and not much has changed from a financial perspective. They're burning cash, but they're also closing and opening new routes, doing a whole new ticket package and brand marketing revamp,...
MARA's at the 1Y chart trendline support. I entered here, stop loss -10%. Looking for $19+. Only thing that is the variable is a chance that Bitcoin falls below $50k. Will be watching closely.
