Since the local high MARA has looked more impulsive to the downside and I was previously looking to buy in the area it is now as it was my preferred retracement area.
But now it it moving with momentum I dont want it here and think it is printing some kind of zig-zag down.
So now taking the 3 previous pivots a fib extension could see MARA reverse at the 1:1 : $7.74 or the 1.618 @ $5.01.
Both look quit promising with other confluent landmarks.
The 1:1 target would fill the gap that for some time I have been saying will fill (see linked thread) much to the dismay of the odd fanboy humpty dumpty.
The 1:618 would see MARA re-test the long term 1.272 taking the 3 major pivots from the top and could potentially see a double bottom reversal.
If stocks and crypto bottom out MARA is going to go bananas.
Judging momentum will be the key to hopefully unlocking this puzzle.
But now it it moving with momentum I dont want it here and think it is printing some kind of zig-zag down.
So now taking the 3 previous pivots a fib extension could see MARA reverse at the 1:1 : $7.74 or the 1.618 @ $5.01.
Both look quit promising with other confluent landmarks.
The 1:1 target would fill the gap that for some time I have been saying will fill (see linked thread) much to the dismay of the odd fanboy humpty dumpty.
The 1:618 would see MARA re-test the long term 1.272 taking the 3 major pivots from the top and could potentially see a double bottom reversal.
If stocks and crypto bottom out MARA is going to go bananas.
Judging momentum will be the key to hopefully unlocking this puzzle.
Note
I am not shorting.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
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Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.