Marathon Digital Holdings Inc. Monthly Chart Analysis & Bitcoin

This is a monthly chart with the 2 moving averages we rely on for denoting business cycles. The blue line is the 23-month MA or about a 2-year business cycle.

This monthly chart of Marathon Digital (MARA) shows how the stock cleared back over both the 23-month moving average (blue line) and the 80-month moving average (green line) in October.

Now, as we have seen throughout 2024, the price continues to hold both the longer and shorter-term business cycle moving averages.

That makes it look ripe for a move higher. Plus, the risk is quite clear to the downside at the 2024 lows, which we just made this week.

Hence, the question on whether this is the bottom for the year and the start of a much bigger move higher.

The above is the detailed content of Marathon Digital Holdings Inc. Monthly Chart Analysis & Bitcoin. For more information, please follow other related articles on the PHP Chinese website!