MARA Holdings, Inc.Short
Scouting $MARA Short
Updated
Recent strength in BTC & Crypto has resulted in a strong MARA daily breakout. Bitcoin is due for daily consolidation so we will be watching for signs of weakness and a sympathetic decline on related names like MARA.
Caution as we have not yet seen the weakness we need but we are preparing to react.
For continuation bulls need to break $8.75 and see BTC having similar follow through. Watching for the following
1. Periods of weakness and rejection from intra day levels, possibly $8.75
2. Hourly consolidation with significant advance toward the $7.21 support
4. Loss of the hourly uptrend into daily consolidation.
Caution as we have not yet seen the weakness we need but we are preparing to react.
For continuation bulls need to break $8.75 and see BTC having similar follow through. Watching for the following
1. Periods of weakness and rejection from intra day levels, possibly $8.75
2. Hourly consolidation with significant advance toward the $7.21 support
4. Loss of the hourly uptrend into daily consolidation.
Note
MARA bulls need to hold the 7.90 hourly support and break the high of yesterday 8.86 to keep the daily bull move going. Bears are scouting short entries off the 8.86 level and the high of premarket at 8.43. They need 7.90 to be taken out!
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