MARA Potential Bounce Off Bullish Ascending Triangle

9 juin

MARA has tested the lower bounds of the ascending triangle before, so a bounce next week has potential. If one occurs a test of the upward bound of the triangle is likely, with a breakout also in speculation as the upward bound has been tested many times already. But, if a bounce occurs and then immediately retraces and breaks through the lower bound, I think MARA will continue on the downtrend.

10 juin

Commentaire

Price has consolidated at the lower bound, low volume near the close could suggest bearish movement going forward.

11 juin

Commentaire

4.5% correction in Bitcoin overnight into this morning led to crypto miners gapping down into the open. MARA breached through the lower bound of the triangle which currently invalidates the original pattern. However, it has not dropped too far, and if BTC finds support and halts its decline, I could see MARA attempt to find support at the lower bound again.