$MARA - RC -
Added 2023-04-24 23:36:26 +0000 UTC$MARA has just been held by the 200 Day MA now, since this is potentially the start of an impulse wave, a leading diagonal can happen, whereby waves (in green) can overlap each other. The issue here is that the the selling pressure that the cryptos are experiencing is negatively affecting these crypto related companies, so our original green impulse wave could be a red corrective wave if the bulls do not step in shortly....and it's hard to see that happening if $BTC keeps declining.
So if this topped out at $13 as a corrective wave, we would be watching for 5 waves down next in amber.
It is not immediately clear which direction this will go in next as both waves will overlap each other potentially before finding out the direction but there is certainly a risk now that this can come down, this was not a risk before as the set up was very positive for an impulse wave.....this confusion has also been evident with $COIN too, which is always the concern with crypto, we have no measurement to evaluate its value.
