Scouting Hourly Lower Highs on MARA

With the break of the $7.90 premarket (now a gap down open) low we know that daily consolidation is underway. Given that BTC is looking for hourly lower highs and that MARA is trading in kind we can look to MARA to see weakness on any short term bullish attempts.

The most likely outcome here is a lower high under $8.50 which would see short term bulls over extended in a range wherein we will be scouting weakness.

Bears still need to prove themselves so as always we will be managing the stops quite closely.