MARA looking like recovering after a pullback.MARA has been an absolute beast of a stock this year up and incredible 11,500% !!! over the last 12 months.
Had a bit of a well deserved pullback, but looks like it will resume its run.
I suspect though that if Bitcoin crashed Mara will come down just as quickly so keep a close watch if you decide to buy.
M44 trade ideas
Is MARA Dead? Obviously MARA is completely dependent on the price of Bitcoin.
However, Look at all the touches and support on this trend line.
It is also the very strong 50% retracement Fib level.
Trading MARA is like trading DeFi in the stock Market - it is volatile!
I believe this is the bottom and I added more MARA. 🚀
Will BTC test 45.3? a critical 50% Fib retracement and 1W 20 EMA? maybe on the weekend and MARA won't feel it? Is this the bottom already in for Bitcoin? When BTC does rip, this will be a grand pump, IMO 😎
Market Manipulation is in the news. do your DD and Good Luck! 👍
$MARA I have been reading a lot on social media about $MARA that its going to go bullish from the current position but i have a different view, not my personal view but what i see on the chart. There's a buying zone around $24-$25-ish so i has a higher probability to dip down a little, grab the liquidity and fly back up.
I could be totally wrong, if i am then i would love to be educated. Always up for learning new things.
Thanks
Trade Safe.
MARA at long term support lineMARA has held support at this long term trend RED support line.
There will be some levels of resistance along the way up (YELLOW)
As Long as BTC is advancing MARA should be done recovering. If RED line fails - more downside pressure will continue
This RED trend support line has held for months
MARA possible support and resistance As see on the chart there are 2 levels of support the 200 MA and the trend line. A possible long position to enter is when there is a bounce off around the 34 area and a bottoming. Possible resistance around 38 and 41(200 MA) but this is a great long as long bitcoin shows signs of bullishness .
Note: This is what I think do your own DD before buying
This looks like a decent area to go longIts following this trendline to an extent more than its created volume zones and resistance levels. Sure it plays along with BTC movement some because they are a miner but as long as it continues to follow the trendline its not too horrible of an idea to go long when it gets close to it. Give yourself a couple weeks of time on your trades though, no 1 week expiration calls if you know what I mean. Because it has breached this trendline a couple of times, they were short lived but anything can happen.
MARA possible routeThe current downtrend is mimicking the inverse of the previous uptrend pattern. Based on that, and the 60 degree drop that followed, I predict MARA trends upwards along a 60 degree angle after closing the gap it is chasing, like today or tomorrow (4/15-16). Afterwards, a move to $48 is imminent technically, although I believe MARA belongs at $60 right now and will be pushed close to those levels through buying pressure. Notice the current downtrend also acts as a channel, same as the previous uptrend.
I still have my May calls from earlier and have no intentions of selling them for a loss. They are $55 calls. I believe MARA is at $70 by May 21.
CRYPTO/STOCKS - $MARA - EW ForecastModel Forecast for Marathon Digital Holdings:
- Bearish LLR.
- Bearish to PT: 37.
- With tight stop-loss, Good RRR trade possible. 7+ RRR.
- Highly volatile, yet range-bound due to leading instruments. Risk Defined.
- High IV, good candidate for net Credit.
- Likely will continue decline... To update.
GLHF
- DPT
New descending channel ??Looks to me as if Mara is falling in a descending channel, I entered yesterday after the initial 10% drop however cut losses quickly as it continued to drop.
I dont see any strong support areas until the 30 levels
Is this due to the new $COIN IPO ?? Not sure
Let me know what you think, new to publishing my ideas so I would love as much feedback and criticism as I can get!
**Not a Financial Advisor**
My bull case for Bitcoin and $MARAHello, today I have analyzed NASDAQ:MARA , Marathon Digital Holdings is a Bitcoin mining company.
The stock price has a 90% correlation with the Bitcoin price. As the value of Bitcoin keeps making all time highes Marathon's income will do
so as well. Since the company has more than 99% of their value in Bitcoin itself.
Why It will soar
Loads of institutional investors are piling into Bitcoin.
More and more companies continue to support Bitcoin.
$MARA is showing great price strength on all timeframes.
Price targets
My short, mid and long term price targets are extremely bullish.
I've set my short term price target at $60 ( Until next friday ) and my long term ( 1 year from now ) at $150.
Conclusion
Since Bitcoin is a strong currency and has been the best performing commodity for the last 12 years, ontop off insitutions beginning to adpot Bitcoin as well as companies accepting Bitcoin for goods and services.
It is also showing a disconnect from the generall stock market which makes It more independent. All of this just proves my point that Bitcoin is the future. This is a strong buy from my side and I will keep dip buying this all the way up, same goes for Bitcoin.
OBS
Note that I am a little biased, I hold Marathon Digital Holding stock at a GAV of $35.