MARA found a bottom of $3 before bouncing to $20 within a few months.
I have a suspicion that we may still be in the impulse wave of this new move from the bottom, currently moving into its last phase before a corrective wave.
According to Elliot Wave theory the second phase of the move cannot be the shortest (from 2 to 3) , as such it gives me an idea that we may still have one more push up.
It also has a potential to create an inverse head / shoulder pattern on the longer time frame while moving closer to the Bitcoin halving. It may only be a matter of time before this stock really makes a huge move.
Namaste
I have a suspicion that we may still be in the impulse wave of this new move from the bottom, currently moving into its last phase before a corrective wave.
According to Elliot Wave theory the second phase of the move cannot be the shortest (from 2 to 3) , as such it gives me an idea that we may still have one more push up.
It also has a potential to create an inverse head / shoulder pattern on the longer time frame while moving closer to the Bitcoin halving. It may only be a matter of time before this stock really makes a huge move.
Namaste
Note
I will be looking to add to my bag below $10.Trade active
Huge pop, perfect respect off the daily level. RSI oversold.Note
Will be scaling into this trade at $9, and larger purchase is we reach $8 range.Note
Looking for a potential move off the blue line (Range Point of Control) at $9.50 where majority of liquidity has been traded recently. According to my plan this should be the lower level of the Elliot Wave as the last leg up begins.Trade active
scaling into this trade at 8.75 and will be averaging in.Note
Price will need to bounce here soon or else we will likely see a move lower.Note
Sticking to my plan. Added to bag at $8.05, and $8.22. Im looking for the last leg to begin. Watching the BTC price movement very closely and ready to exit this trade if we get a major rejection on Bitcoin. My bias at the moment is still bullish and looking for higher prices before entering short trades. Ideally I would like BTC to push back into the $30k range, which may potentially open the chance for a squeeze as this stock is over 20% short interest.
Trade active
Another buy in $7.35Note
Resistance at $9 daily level. Looking for a strong break and close to get us moving up. Note
Level to level, no surprise we are hitting resistance here. Note
Looking for MARA to start making its next leg up. Last time we had this RSI setup we had an unbelievable rally. Note
Finally seeing the momentum switch on the longer time frameNote
On the weekly time frame Note
Lets take a look at the total volume profile for the last couple years. We are approaching the Value Area High, but we are currently above the range point of control. BTC will be the deciding factor. If we start losing 40k then I will consider a bearish position.
Note
On the weekly
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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.