$MARA down again to $6-8 before up?
Similar to my thoughts on
RIOT
, I also think
MARA
likely has another leg down before starting the uptrend higher.
I think most likely scenario is price tests the $10.43 level once more, rejects, and falls to retest the lows.
After retesting the lows in the gray box, then we start the real rally higher.
If this idea does play out, my current thinking is that the rally higher would be quick in early December hitting between $16-20 as the final move higher.
This idea lower would be invalidated on a move higher than that $11-12 region.
Let's see what happens.
RIOT
, I also think
MARA
likely has another leg down before starting the uptrend higher. I think most likely scenario is price tests the $10.43 level once more, rejects, and falls to retest the lows.
After retesting the lows in the gray box, then we start the real rally higher.
If this idea does play out, my current thinking is that the rally higher would be quick in early December hitting between $16-20 as the final move higher.
This idea lower would be invalidated on a move higher than that $11-12 region.
Let's see what happens.
Comment:
Broke $12 so invalidated. That said, I do think we could potentially retrace from these levels back to low $9-10.55 now, before $16-20. So if that were to happen, it's a good place to add.
