Marathon DigitalBreaking Flag. This has the potential to go much higher. It seems like BITCOIN will be reaching 80K soon. This will hit 30 if that happens and more FOMO are going to enter.
MARA trade ideas
MARAI started accumulating MARA based on the analysis of BTCUSD, and as soon as MARA has completed a ZZ and RSI went down to 30.
Price broke out of the corrective price channel and crawls slowly to the upside.
Given the miners beta vs BTCUSD - this stock should fly.
Where bitcoin goes MARA follows - Current Macro developmentsHi guys! As usually i keep my eye open for macro changes or signals that may lead to major moves. Of which Marathon (MARA) has been on my radar.
This analysis is done on the 1 week timeframe.
We are currently attempting to get Above our Major level/ area around $18-20.
This area also coincides with the 21 EMA.
Which we are also ABOVE as we speak.
However, remember it has not yet confirmed that we managed to get Support from 21 EMA.
Also note that we recently tested Support on 50 SMA and have maintained it 6 weeks in a row. This fact makes me think, we will continue UP -> At the very least to the Upper range of the consolidation orange rectangle at $28.00
We have not yet printed a death cross which is a good sign indicating probabilities pointing towards continuation of Uptrend.
Pay attention to next weeks candle close for more clues.
Ive also highlighted our current price action to be part of a Consolidation range, from $15.00 to $28.00
I think it makes sense for us to be consolidating as we are making our way out of the bottom of the market for MARA. (around the 3.50 area) Since then we've already climbed roughly 1000% to our top around $34.
21 EMA and 50 SMA flattening out also supports the Consolidation occuring.
Consolidation is basically when an asset tries to digest rallies, trying to catch its breath.
And now we have to assess whether theres further momentum left to continue our Bull market or make our way back down.
If Bull market continues, we can make our way back to this Major Resistance lvl labeled. We have touched this line 3 times in history previously and it marks Blow off tops of Bull markets for MARA.
If we get rejected from this Major level, we can make our way back to the sloping Support trendline labeled below.
So to find a sense of whether or not MARA will continue or come down to test the lows, we look to 2 indicators that i love using to assess "momentum".
Notice the STOCH RSI.
Everytime we come down to the 20 lvl, we stay Below for extended periods ranging from 57 days to as much as 126 days.
When we cross Bullish and move UP Above 20 lvl, we tend to have Rallies UP.
1 pattern though, with STOCH is its relationship with Moving Averages 21 EMA and 50 SMA.
When Purple (21 EMA) crosses Below Green (50 SMA) Moving Average and there is a STOCH Bull cross, sometimes it doesn't impact big rallies.
BUT When Purple is on top of the Green Moving Average and STOCH crosses BUllish Above 20 lvl. This is a pattern seen in relation to big rallies UP
So if we can get a STOCH Bullish CROSS Above 20 level, while our 21 EMA is Above our 50 SMA, we can expect to see a continuation rally. Watch also for a break Up and confirmation out of the consolidation zone.
The MACD is currently ABOVE the 0 level, with waning or decreasing Bearish sentiment. This is seen from the print of the lighter red bar of the histogram. The Blue/Orange lines are also attempting to Curve Up and try to Cross Bullish.
If we continue to print smaller lighter Red bars, and then see a Green bar print, it is likely momentum has turned Bullish.
Bullish Crosses ABOVE 0 level, tend to rally Upwards.
A MACD and STOCH CROSS together would be even better sign of uptrend to be PROBABLE.
ANd if we Breakout of the consolidation rectangle we are currently in -> its likely we test "Major Resistance" at around $60.
Keep observing and paying attention.
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Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on MARA in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Mara trading ideaMara stock is forming a strong bullish inverse head and shoulders (ISHS) pattern, with the price trading near its neckline. We plan to accumulate within the provided range and focus on the profit targets shown on the chart.
MARA: Buy idea: uptrendBuy idea on MARA as you see on the chart because we have the breakout with force the resistance line by a big green candle follow by a large green volume.!
A rise in BTC = a run on MARAIf BTC continues a bullish course then I think we can expect to see MARA in very good standing. I have also identified a previous pattern worth noting. Conditions aren't identical but perhaps close enough to cause some excitement. Not financial advice, DYOR.
Mara cup and handleThis long-term Mara cup and handle is looking ready to explode, the consolidation and downward movement has expressed itself fully at this point. The reversing stochastic RSI is hopeful and BTC is in a heavy contraction as well. This cup projection extends to about a 55$ share price but does not take into account any share dilution.
MARA Trading Levels 5/31Outlook -- Broke below the 9 ema yesterday and rejecting
it again today. Ended the day with a bounce off the 21 ema
and stoch is at a resistance level. 20 must hold for any upside
or else the downside targets are in play.
Upside Targets:
*21.13--22.46--24.63
Downside Targets:
*19.32--18.50--17.56
Daily Trend Tracker -
*DXY+ *VIX+ *US10Y+
Divergence for many V3 - Divergence IndicatorIndicator's script runs multiple momentum oscillators against price to seek out divergence. If any oscillators show divergence, chart will populate icon with number of bullish or bearish divergence alerts.
Marathon Digital Holdings (MARA): Bullish Divergence SignalsMarathon Digital Holdings is heavily influenced by developments in the cryptocurrency market. Despite this dependency, significant indicators on the RSI chart show repeated divergences. These divergences have previously resulted in substantial price movements and could potentially do so again. Currently, we have identified a bullish divergence on the daily chart, with the stock holding above the High-Volume-Node (HVN) Edge within a trend channel. These correlations suggest there could be enough momentum for the stock to retest the $34 level, which we consider a minimum target.
Marathon's stock is known for its rapid movements, meaning it can quickly move up or down. Should the stock move upwards, it could swiftly surpass the $34 mark. However, we must also consider the presence of equal lows on the chart. These equal lows are often a point of concern as they indicate significant liquidity below them, which the market tends to target. Therefore, it is possible that we might see a dip to collect this liquidity in the coming days, weeks, or even months, potentially bringing the price back to the trendline.
In the worst-case scenario, the stock might drop to the High-Volume-Node Point of Control at $9.67 before resuming its upward trajectory. Despite this risk, we believe that Marathon has substantial upside potential in the coming weeks. The confluence of bullish signals and strong support levels suggests that the stock could see significant gains if the bullish divergence plays out as expected.
MARAthon to Success: Chart Indicates Long PositionThe annotations in the chart convey all the essential information about the technical situation in MARA. The stock is a clear long for us. However, we advise waiting for a small pullback to around $18.30 before entering. The price is currently overbought, and to optimize the risk-reward ratio (RRR), traders should wait for a slightly more favorable entry point.
$MARA - Watch that critical resistance areaNASDAQ:MARA Marathon digital run into resistance. Watch $22 - $23 critical resistance area for a potential breakout. 👀
$20 looks to be a new support.
Mara target @27Inverted Head and shoulders with strong breakout , increase in volume noticed with positive divergence on RSI
MARA to 24 and possibly 26Mara is in a bottom triangle-bottom wedge formation, and a breakout above the upper trendline should take us to $24 and possibly $26.
$MARA PUT OPTION 5/17 - 5/31 Targets: $7.50 or lowerA highly shilled, highly volatile meme stock for crypto enthusiast. With MARAs average volatility at +/- of $5 per week, a pending death cross, and BTC set to collapse, the odds are just to sweet to pass up.
happy trading ;)
MARA Double Top + Bear FlagTwo bearish patterns within a big structure could signal a big move to the downside.
- BTC itself doesn't look too strong as of this post and they are somewhat correlated by algos
- Twitter pumpers out in full force as well
Price Targets: 14.33 and 10.32 if things get really bad
Marathon Digital Holdings Reports Q1 2024 Results Stock Down 6%Marathon Digital Holdings ( NASDAQ:MARA ), a global leader in leveraging digital asset compute to support energy transformation, reported its financial and operational results for the first quarter that ended March 31, 2024. The company saw an increase in energized hash rate by 142% to 27.8 EH/s in Q1 2024 from 11.5 EH/s in Q1 2023. The company produced 2,811 CRYPTOCAP:BTC during Q1 2024, a 28% increase from Q1 2023. Revenues increased 223% to $165.2 million in Q1 2024 from $51.1 million in Q1 2023. Net income increased 184% to $337.2 million, or $1.26 per diluted share, in Q1 2024 from $118.7 million, or $0.72 per diluted share, in Q1 2023. Adjusted EBITDA increased 266% to $528.8 million in Q1 2024 from $144.5 million in Q1 2023.
The company introduced Anduro, a new multi-chain Bitcoin layer-two network aimed at accelerating Bitcoin development and adoption. It launched the Company's first products and services to support the Bitcoin ecosystem, including Slipstream, MARAFW, MARA UBC 2100, and MARA 2PIC700. The company closed multiple acquisitions of data centers, increasing its mining portfolio to more than 1.1 gigawatts of capacity, 54% of which resides on sites now directly owned and operated by the Company.
Marathon ( NASDAQ:MARA ) also increased its 2024 hash rate target to 50 EH/s, representing approximately 100% growth in hash rate during 2024. The company doubled the size of its portfolio of digital asset compute, launched its first products and services to support the Bitcoin ecosystem, and battled against operational challenges to produce record financial results.
Net income increased 184% to $337.2 million, or $1.26 per diluted share, during the three months ended March 31, 2024, from net income of $118.7 million, or $0.72 per diluted share, in the same period last year. The increase in net income was primarily driven by the favorable mark-to-market adjustment of digital assets from the newly adopted FASB fair value accounting rules, ASU No. 2023-08, Accounting for and Disclosure of Crypto Assets, which requires on-going measurement of crypto assets to fair value.
Revenues increased 223% to $165.2 million in Q1 2024 from $51.1 million in Q1 2023. The increase in revenue was primarily driven by an $82.9 million increase in the average price of bitcoin mined, a $10.4 million increase in bitcoin production, and $20.8 million in revenues generated from providing hosting services as a result of the acquisition of GC Data Center Equity Holdings, LLC on January 12, 2024. The Company sold 26% of the bitcoin it produced during the quarter to fund operating costs.
Gains on digital assets were $488.8 million during the first quarter of 2024, compared to $137.4 million during the same period last year. The $351.4 million, or approximately 256% increase, was primarily related to the price of bitcoin increasing to $71,289 as of March 31, 2024, compared to $28,474 for the prior year period ended March 31, 2023.
Technical Outlook
Despite the positive earnings beat, Marathon Digital Holdings ( NASDAQ:MARA ) stock is down 6.51% on Friday's Market open trading with a Relative Strength Index (RSI) of 49 and trading below the 100-day Moving Average (MA). The daily price chart depicts a bearish hammer head.
Calls on Mara, To the Moon! $$$Playing this for a couple days and the Earnings report was beyond what it was last time!
Trend and Earnings with increased volume should increase demand, decreasing supply
25% INCREASE?????? TOMORROW MORNING?????
*Not financial Advisor*
Marathon Digital Holdings Long PositionHi traders,
Turning our attention to Marathon Digital Holdings, Inc., we can observe the formation of an inverted Head & Shoulders patterns over the past few weeks, signaling a potential bullish reversal.
Marathon Digital Holdings operates as a digital asset technology company, primarily focused
on mining cryptocurrencies such as Bitcoin. The performance of Bitcoin in the market can
have a significant impact on Marathon Digital Holdings, as it is primarily engaged in Bitcoin
mining. Nowadays Bitcoin performs well, so it generally results in increased profitability for
mining companies like Marathon Digital Holdings, as the value of the mined coins rises.
As the price approaches the neckline of the inverted Head & Shoulders patterns, a breakout above this level confirms the bullish reversal.
1st Take Profit: 22.44.
2nd Take Profit: 26.23
Final Target: 28.8
Marathon Digital stock Listed in S&P 600 IndexBitcoin mining company Marathon Digital ( NASDAQ:MARA ) has seen its stock value rise by 18% after being listed by S&P Global in its SmallCap 600 index. The company's market cap rose by about $800 million over the weekend, marking a significant achievement for the digital asset company. The SmallCap 600 index is an index of companies with a small market cap, selected based on their recent profitability and other features. The companies considered to be small-cap must have a market cap of $1 billion to $6.7 billion.
Marathon Digital ( NASDAQ:MARA ) has filed an 8-K with the SEC for compensation of some of its highest executives, stating the company's commitment to providing long-term incentives to workers as part of its LTIP Awards.
The incentive is being awarded to three of the company's executives, including CEO Fred Thiel, CFO Salman Khan, and General Counsel Zabi Nowaid. The move is expected to boost morale and align the executives' interests with those of the company's stockholders.
Despite its inclusion in the S&P 600, Marathon Digital ( NASDAQ:MARA ) stock is down 2.25% with a Relative Strength Index (RSI) of 57 posing signs of a reversal trend in the near to long term.
Marathon Digital ( NASDAQ:MARA ) stock is trading below the above the 200-day Moving Average (MA).
MARA Marathon Digital Holdings Options Ahead of EarningsIf you haven`t bought the dip on MARA:
Then analyzing the options chain and the chart patterns of MARA Marathon Digital Holdings prior to the earnings report this week,
I would consider purchasing the 20usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $7.85.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
