➖ On the 17th of July, the MARA stock produced a very strong sell signal in the form of a bearish candlestick pattern.
➖ This is a Doji and also a long-term lower high (July vs February).
➖ The ensuing price action formed what we call a "rounded top," a major reversal pattern.
➖ While these are strong bearish signals, there was a still a rising trendline working as support.
➖ This trendline is shown black on the chart and has now been breached. Breach of support.
➖ With support lost, we can expect MARA to move back to its baseline level; clearly shown on the chart.
This is already an old move and fully confirmed.
➖ Depending on how the baseline is treated, we can determine if a recovery will take place or lower prices are expected.
➖ An initial bounce at baseline is ultra-high probability at baseline.
Thank you for reading.
Namaste.
➖ This is a Doji and also a long-term lower high (July vs February).
➖ The ensuing price action formed what we call a "rounded top," a major reversal pattern.
➖ While these are strong bearish signals, there was a still a rising trendline working as support.
➖ This trendline is shown black on the chart and has now been breached. Breach of support.
➖ With support lost, we can expect MARA to move back to its baseline level; clearly shown on the chart.
This is already an old move and fully confirmed.
➖ Depending on how the baseline is treated, we can determine if a recovery will take place or lower prices are expected.
➖ An initial bounce at baseline is ultra-high probability at baseline.
Thank you for reading.
Namaste.
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🚨 The difference between weak signals & PREMIUM trade-numbers lies in results. Stand apart from the crowd » Join us now! 👉 t.me/lamatrades/4
💥Top Results
t.me/anandatrades/1183
🏆New Results
t.me/masteranandatrades/6172
💥Top Results
t.me/anandatrades/1183
🏆New Results
t.me/masteranandatrades/6172
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.