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MARA Technical Analysis
Mara looks like it is going to open a little lower, perhaps right around the 50-day EMA, but it is in the realm of building a basing pattern at the moment, and a lot of people will be paying close attention to that. If the market were to break above the highs of the Wednesday session, then it opens up the possibility of a move to the 200-day EMA, which is currently right around the $17 level. I don’t have any interest in shorting Mara anymore as it is clearly a market that’s starting to fight, and Bitcoin is starting to rally. So that certainly helps.
RIOT Technical Analysis
Riot incorporated, it looks like it could pull back a little bit right at the open on Thursday as well, but it should be noted that this is a market that’s in an extraordinarily strong downtrend. So, the beginning of hope is starting to show itself as we are consolidating between the $6 level and the $7 level. This market will continue to be very noisy, but for longer term traders, this could be an area where you start to take a look at it. But in the short term, I just don’t see how you get aggressively bullish on this stock with the type of price action that we have seen for so long. This is essentially just dead money at the moment.
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