Marathon Digital Holdings, Inc. | Support Breached (Baseline)

1 ago

➖ On the 17th of July, the MARA stock produced a very strong sell signal in the form of a bearish candlestick pattern.
➖ This is a Doji and also a long-term lower high (July vs February).

➖ The ensuing price action formed what we call a "rounded top," a major reversal pattern.

➖ While these are strong bearish signals, there was a still a rising trendline working as support.
➖ This trendline is shown black on the chart and has now been breached. Breach of support.

➖ With support lost, we can expect MARA to move back to its baseline level; clearly shown on the chart.

This is already an old move and fully confirmed.

➖ Depending on how the baseline is treated, we can determine if a recovery will take place or lower prices are expected.
➖ An initial bounce at baseline is ultra-high probability at baseline.

Thank you for reading.

Namaste.