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Undercut & Rally - MARA, CLSK

MARA and CLSK are having undercut and rally entry signals. These Bitcoin miners tend to track the price of Bitcoin but can experience brief periods of non-correlation. Bitcoin often moves first then the miners catch up. These miners got well ahead of themselves in price during the last run that started in Oct-2023.

MARA, for example, went up about 4x so it looks as if it is digesting gains before moving higher should Bitcoin definitively break through all-time highs of $69,000. On the other hand, Bitcoin could have another selloff as it is in double-top territory, much as it did yesterday when it briefly broached $69,000 only to correct about -10% in a hurry. The speed of the correction was largely due to a long-heavy market with much FOMO. Since then, liquidations are less prone so a repeat of what happened yesterday may not happen. Instead, it would be useful to closely monitor the $69,000 then "Livermore" $70,000 levels. Bitcoin spot ETFs continue to experience large inflows which is helping Bitcoin achieve relatively clean uptrends. But don't get caught up in the Bitcoin FOMO so always know your exit point(s).

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