MARA! Swing Getting a great support.
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MARA
MARA - Retesting BreakoutBulls have been in control since May 2020.. Some see a H&S, I see a re-test of breakout.. We do have a shooting star on the monthly which is bearish bitcoin has been consolidating for months and expecting a breakout any day.
TP $100+ by mid-Feb. If bitcoin stalls, then RIP MARA. GL
mara short swing ~previously we swung mara from around $20 --> $70 via:
it came down pretty impulsively after poking our target, and there has been no signs of bullish divergence or anything of this nature (thus far).
i think it's going to drop lower.
shorting it right here for this potential sub-wave 5th swing.
MARA update on weeklyLarge drop has happened and we are digesting sideways a little bit. Scenario #1 The question will be does the weekly candle close above the $51 - $53 area and we sit here for a week or so before we continue to build back up.
Scenario #2 we get more flush out because leverage is still high and BTC takes the crypto market down towards $43k for a higher low. Those levels for MARA would be the yellow arrows and would likely happen quick.
Leaning towards #1 being a higher probability due to historic test to 2017
NEW POSITION $MARA @ 55.31 —Looking for 30.05%NEW POSITION $MARA @ 55.31 —Looking for 30.05%
Ok, so I do think that MARA could pull back a little more but I started a 1% position here…
Sell target 71.93
Or
Double Target 38.69
And honestly, I'm kind of secretly hoping it pulls all the way back to 38 - it certainly has the volatility to do so...
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RIOTFor whatever reason Riot is a lagger compared to MARA. On Friday closing near resistance this could move heavily to the upside and even break highs in mid December. Seems likely to be .. could be even a 100% gainer from here!
Hope you guys are having a good weekend and find these charts before the start of the new week!
Will post some more following this one, had to get this one out.
Buy ITM calls for two months out.
MARA : POST TRADE ANALYSISGood high handle type entry.
What would have kept me in this trade?
We don't always make perfect decisions. If trading was a perfect science, there would be no opportunity. I post this analysis to show where the "doer of deeds could have done differently".
One sticking to my original stop and trailing the 10 day.
Perhaps, waiting to see if it cut the prior day low before exiting for just allowing the rest of the trade to ride isince I was already in profit.
Or, moving the stop to just below the candle of the gap?
The main reason I sold the final position was due to upcoming earnings report. It's apparent that stocks can suffer damage so it is important to always know the earnings date, before purchasing a stock. The pull-back was intense and could have been a lot worse, but I had an 11.9% cushion which was borderline for holding through an earnings report.
It hasn't closed below the 10 day. Holding final position could have been successful but we never know if our stock might gap down 30% on a report.
The results of the trade : 11.9% 1.87R
EDUCATIONAL AND NOT MEANT AS TRADING ADVICE.
$riot looking better everyday riot has broken out of its downtrend from March and tested resistance at the .382 fib level or $43.25 I believe this will test it again in the near future and breakthrough near earnings or the day after on the 15th and rocket up to the .618 $57.09. I have gotten a position in at $27 and will buy a bigger position of calls expiring next week.
IT'S HAPPENING! BULL AUTUMN AHEAD IN CRYPTO LAND!As discussed at length a couple of months ago, we've been keeping a close eye on the internal strength relationship between Marathon Digital Holdings (an American Bitcoin mining company) and the Bitcoin spot price.
As we can see, the soon four year long reversed head and shoulders pattern has now gotten a technical breakout. As long as this DOESN'T turn into a fakeout, we can safely conclude that Bitcoin is in for an autumn rally!
Why then is that?
Well, just as Coca Cola won't lower their prices on their tooth-acid nightmare should the price of sugar skyrocket, neither would Marathon itself trend whilst Bitcoin is dumping.
Based on the near 4-year long technical build-up, there is A LOT of upwards pressure amidst a north-bound breakout, like now. Hence, we can naturally conclude that Bitcoin is either ready to truly move, or at least to continue consolidating with time, as in a price-based correction, above THIS key horizontal support zone.
We have recently discussed how Bitcoin could be in for a nasty flat down to $22,000-25,000. Is that entirely nullified then?
Yes and no. As long as this internal breakout in Marathon versus Bitcoin (NASDAQ:MARA/BITSTAMP:BTCUSD) DOESN'T turn into a fakeout, then yes: the flat threat is cancelled.
If, however, we were to see a soon-to-come break below the technical neckline, then you can bet the farm Bitcoin will go down there.
As for now, given the immense risk to reward, I have put all of my eggs into Cardano, Ethereum, Marathon Digital Holdings and Polkadots - all of which are some of the strongest technical prospects right now.
With that said, I WILL release EVERYTHING upon a break down below the neckline. And the reason is simple: fakeouts tend to move highly aggressively in the opposite direction. In such case, you can take the low to mid 20 000s targets to the bank.
$MARA Long Idea
MARA is a crypto space company who moves relatively with Bitcoin (BTC miner).
Given the recent resilience of Bitcoin, MARA has broken out of a rounded bottom on the daily and is currently in wound up daily pattern.
RSI also looks to be bull flagging and MACD still in bullish context.
Targets are 58, 60, 65. Stop Loss under 47.
Daniel Betancourt
OptionsSwing Analyst
ANY Price TargetSphere 3D Corp. (ANY) deal for rights to bitcoin mining agreements of 60,000 new bitcoin mining machines for a total of 5.7 Exahash of computing power.
Marathon is on-track to deploying 103,120 miners which will provide a combined output of 10.37 ExaHash, resulting in an estimated 50-60 BTC per day.
MARA mk cap is 5.02Bil vs ANY Market Cap 374Mil.
MARA 10.37 ExaHash vs ANY 5.7 Exahash
I see at least a 400% upside potential for ANY from here!
Possible good entry point for GREE $GREE went through a merger with $SPRT. The merger was an absolute nightmare for holders of $SPRT. They were not given the appropriate number of shares of $GREE relative to the price of the old ticker $SPRT. Not only did they see a -50% loss the stock fell from ~50$ ipo price to where it is today ~$22-$23. Now for some possibly good news. It does look like $GREE has found support in the low 20 dollar range. In my own opinion, I can see this stock starting to climb back up because they mine bitcoin. bitcoin hit a new ath and appears to be on its way past 70k in the near future. So because you $GREE mines bitcoin their price is very heavily related to the price of $BTC.
How does this stock's Hash rate (basically the amount of bitcoin they can mine) relate to their peers. Well NASDAQ:RIOT hash rate is 2.3 EH/s they have a market cap ~3billon. NASDAQ:MARA has a hash rate of 1.9EH/s and a market cap of ~5 billion. NASDAQ:HUT has a hashrate of 1.3 EH/s and a market cap of ~2 billion.
So $GREE has a market cap of ~900 millon and a hashrate of 1.0 EH/s. It is pretty simple too see that they are undervalued relative to their peers. I am long on NASDAQ:GREE myself and am optimistic for what the future holds for them and bitcoin.