Since there is large selling pressure at the current level, but not enough price action (yet) we can assume that there is a sell side sentiment for the market to correct itself before a higher push for the upside (i.e. there must be consolidation to the downside before bullish sentiment can resume).
Additionally, due to the mixed news with the Fed vs unemployment...
MARA should move with the trendline as seen by last week. However, if there is enough momentum with the bulls, there could be a huge breakout towards the upside. Turning the bearish trend into a bullish support line
Looking at history and previous chart patterns, this seems like an interesting outcome for $SPY to develop. So far, idea is staying true and confirming support/ resistance trends. I appreciate any criticism or thoughts on this idea!
