MARA seems forming a nice fallen angel formation. There is a possible momentum scenario building here. It is a speculative trade in Block-chain industry, be aware of the risk.
* Trade Criteria *
Date First Found- April 26, 2018
Pattern/Why- FAllen angel formation
Entry Criteria- Current Price ($1.80)
Exit Criteria- 1st Target $2.43 & 2nd Target $3.23
Stop...
All converging. Volume and activity dry up, if you see some nice volume in the premarket, could turn into a nice bounce in the open. These are all like, the "blue chips" of bitcoin stocks, the originals with the most volume.
They put out these fake asks a few days ago for 2.50 in the premarket open, then bought them, only 100 share lots. Such a blatant attempt to pump the price up so they could dump shares. Recently put out a blockchain press release. You can see the rabid selling that happened that day. Company is way over leveraged and too many shares. A sure thing
Bitcoins are starting to show life again. BTSC hits a double bottom and reverses is my guess. Set a limit order to BUY BTSC a few cents above the previous low.
I see MARA forming a bull flag. I expect it to be supported by the 34sma so I don't expect a dip back down to the lower trend line. Possible upside +34% set stop for possible loss of 5%. Good risk reward. I can see it going to $7.80 from here. Blockchain is a hot sector right now. You might get this move all in one day.
