$MARA #MARA bounce to $8.27!
Here's my bullish case for Marathon Patent.
MARA is still overall bullish as Bitcoin is also overall bullish. We can see that the stock is retracing from $5.24 high and now is testing the 0.618 Fibonacci line $3.59. I believe this will be an after hour market move.
Mara is currently consolidating inside the demand zone of $4.23 and $2.86. Institutions are loading up on these levels as they prepare for $12,000 bitcoin case. Bitcoin has touched those levels twice in the last 2 weeks and is rejecting and recovering faster.
As we major resistance is slowly being chipped down. Marathon patent will follow bitcoin's move as the two assets are correlated.
Bitcoin's break of $12,000 will clearly break MARA's resistance of $5.24 and fill the void to $8.27 which is it's next major resistance.
MARA is still overall bullish as Bitcoin is also overall bullish. We can see that the stock is retracing from $5.24 high and now is testing the 0.618 Fibonacci line $3.59. I believe this will be an after hour market move.
Mara is currently consolidating inside the demand zone of $4.23 and $2.86. Institutions are loading up on these levels as they prepare for $12,000 bitcoin case. Bitcoin has touched those levels twice in the last 2 weeks and is rejecting and recovering faster.
As we major resistance is slowly being chipped down. Marathon patent will follow bitcoin's move as the two assets are correlated.
Bitcoin's break of $12,000 will clearly break MARA's resistance of $5.24 and fill the void to $8.27 which is it's next major resistance.
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