$MARA Holdings(MARA)$ The reason why MARA keeps falling despite Bitcoin's multiple rebounds in the past week was because Bitcoin's Highs and Lows generally influence MARA's fair value gap (FVG), not the overall bullish or bearish trajectory. Therefore, in the past week, Mara did not rebound to the same price point when bitcoin kept rebounding close to $100k. Bitcoin's rebounds set the FVGs for MARA, but MARA was already on a bearish cycle after hitting the peak at $30-31.
Bitcoin's High and Lows influence MARA's overall bullish/bearish trajectory only when Bitcoin hits a new record, at which point this becomes the new peak for MARA and a point of bullish/bearish reversal.
I predict the lowest Mara can get is 22.5. This is not due to a new Lower Low record set by Bitcoin, but it's a price point where MARA has recently encountered strong psychological resistance. MARA has now hit that point. From now on, MARA is on a bullish cycle.
It will take a few Bitcoin's Highs to build up MARA's FVGs. But if Bitcoin sets a new record, this will eliminate multiple FVG ladders in favour of MARA's swift rise to a new peak. 🚀🚀🚀
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments
Too complicated…why not just buy $iShares Bitcoin Trust(IBIT)$