Use Technical Analysis To Find MARA Trading Opportunity
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.
Buckle up, traders! Today is the day we make some serious MARA magic happen. Let's get those profits rolling!
Break out the dance moves because MARA's bullish engulfing candlestick has got us grooving towards profits!
Last night's price adjustment was just a blip on the radar, my friend. MARA is ready to bounce back and soar!
Now that crypto hits $30,436.95 trading should be everybody plans, but what really matters is, how to get to a legit platform🎄
Get ready to ride the MARA wave and make some sweet crypto cash, my fellow stockholder!
Hold on to your seats, folks! MARA is about to ride the Bitcoin rocket to the moon!
Bitcoin is on the move. Gensler just told the tutes to submit proper paper work to apply for ETF’s. Sec can’t stop this train. Crypto is the future of finance. Mara is the finest miner in the business.
I have traded crypto miner stocks as 25% of my IRAs since may 2017 and to date in just 5 years so far my IRAs are up 10x from April 2017, mist of that due to Mara, RIOT, WULF & HUT.
These levels of leverage for MARA stock are not unreasonable expectations given the stocks behavior in the past (for both up and down). Just my 2 cents.
If you're truly short, then you better cover. This was the last chance until we get closer to 16 next week
Nice weekly and monthly closes on volume, getting a little overbought on the daily.
Btc massive drop to 30k barely shook mara, we’re never seeing 12 again 🤑
mara going to need to clear some debt obligations
Mara has gained support and will continue onwards!
Great