MARA structure break aheadMy trading plan for Mara:
1. As the ralley of the last days was driven by a lot of euphoric dumb money with FOMO due to rate hikes, I do not trust. We‘re at ATHs in S&P500, we could form some double top at NASDAQ and we are meeting a strong resistance in BTC.
Therefore I think we will have another flashcrash next days, bringing BTC down to under 50.000 and MARA back to the upward trend. That‘s when I will go long at 9$.
2. As flashcrashs in election years are traditionally a very good buy before a strong ralley, I think we will see another upward trend into Q1 of 2025. I my opinion it‘s irrelevant wether the president is called Trump or Harris, it‘s much more important that people stop questioning who will win. A lot of liquidity will flood the market, we will see new ATHs.
When stock market and BTC ralley MARA will break the triangle structure and go up to somewhere at 40§.
This is my TP to sell.
3. I expect the long time expected recession as a delayed consequence of the rate hikes, so I see a correction that‘s lasting for a few months in 2025. BTC may be going down to 30.000$ and MARA will backtesting the downward trend as support with another capitulation under the upward trend.
This may be the time to go long again at 4$-7$ to enter the next ralley driven by more printed money, which may bring MARA to 120$ and give us 20x.
Just my opionion, please think by yourself.
Happy trading!
