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Use Technical Analysis To Find MARA Trading Opportunity
@nerdbull1669：
I believe we are seeing some news of organization investing into their own crypto exchanges. This would drive the demand for Bitcoin. Hence, $Marathon Digital Holdings Inc(MARA)$ being a major Bitcoin miner would be able to take some advantage of this demand. So I am writing this article to do a technical analysis using candlestick pattern and some indicators to explore if we can buy into MARA now since it experience a price adjustment last night (26 June 23). MARA On Bullish Engulfing Candlestick Pattern MARA just got its bullish engulfing candlestick on 23 June 23 (Last Friday), yesterday price down was driven by selling activities. I foresee that we should have a good trading today (27 June 2023). Use Simple Moving Averages (SMA) To Determine MARA Price Trend Based on SMA50.200, MARA is just starting to build its Bull trend, do note that it is not strong. If we planned to do a LONG position, we might want to wait for a while for a stronger Bull trend, it should be coming soon, maybe over the next 2 weeks. Use Parabolic SAR To Check MARA Potential Reversal As we have seen bullish trend from both the engulfing and MA, when we look at the Parabolic SAR indicator, it seem like MARA has complete its reversal to Bullish uptrend. We have seen similar occurrences in mid March 2023, and the reversal to bullish uptrend was for quite a while. I would anticipate a Strong bullish trend coming for MARA. But we should always check the price and volume movement when trading begin. Summary From what I have gathered, I would think we can monitor how MARA will be trading tonight (27 June 23) and then see if we can do a LONG position. Appreciate if you could share your thoughts in the comment section whether you think it is a time for us to take a LONG position for MARA. @TigerStars @Daily_Discussion @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts. Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
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.
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