Bitcoin has been rallying recently and there are tickers that are benefiting greatly. If you are not interested in setting up a wallet and directly trading cybercurrency, these tickers can be a great way to ride the wave. One of those stocks has really set themselves up to be a stock trader friendly way to trade the rallies bitcoin is having. They not only mine bitcoin but also hold a significant amount of the asset on their balance sheet to exploit the big moves.
They have recently acquired a power company, one of the bottle necks that miners face, and Wall Street has been pleased.
Take a look at the chart and let’s see where the next trade is.
MARA is developing a promising bullish reversal after reclaiming its short-term moving averages. PPO has crossed above its signal line with a rapidly expanding positive histogram, while +DI has moved firmly above –DI, showing that buyers are gaining control. The stock now faces important resistance near $12.30–$12.35, where the 233-day EMA is located. A confirmed break above that area could open the door toward $13.35, followed by approximately $14.00–$14.50. Watch for bullish opportunities if MARA can clear and hold above $12.35.
Wishing you the best,
Wendy
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