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Bitcoin and Bitcoin Miners ($BTC):
Bitcoin is showing a positive trend with several green candles above the major moving averages, indicating bullish momentum. However, confirmation of this trend is needed as the most recent candle is viewed as a potential doji, which calls for caution. The support levels are around $65,000, with a crucial resistance near $69,000. If Bitcoin can close above this, it may see further gains towards $71,000.
Marathon ($MARA) and Riot ($RIOT):
Marathon: Struggling to find a strong directional trend. The stock needs to break above $20.80 to show bullish signals, with significant resistance near $21.00. If it surpasses this, a rapid rise could follow.
Riot: Appears slightly more optimistic than Marathon. It’s positioned to challenge the $10.30 mark, with potential to reach higher if it can sustain momentum and break key resistance levels.
Smaller Bitcoin Miners (HUT, BTBT, WULF):
Hut 8 Mining ($HUT): Attempting to break above all moving averages but lacks confirmation. A positive follow-through is required to confirm bullish momentum.
Bit Digital ($BTBT): Showing strength with confirmation in recent trading days, suggesting a potential move towards $4.20-$4.35.
TeraWulf Inc ($WULF): Similar to HUT, in the process of attempting to break above all major moving averages. Needs further positive candles for confirmation.
Coinbase ($COIN) and Robinhood ($HOOD):
Coinbase: Struggling under significant technical resistance, with no clear confirmation of breaking out. The weekly chart suggests an attempt to reverse the downtrend, but it’s yet to be confirmed.
Robinhood: More favorable than Coinbase, showing potential on both daily and weekly charts. It’s over all its moving averages on the daily chart, suggesting an upward trajectory could be more likely.
Each of these stocks and Bitcoin itself shows varying levels of bullish signals, but many require further confirmation to ensure the moves aren’t false breakouts. For the miners, their performance is closely tied to Bitcoin’s price action, highlighting the importance of Bitcoin’s ability to maintain and extend its gains for the miners to follow suit.
00:00 Bitcoin Technical Analysis
09:02 MARA & RIOT
14:10 BTBT, WULF, HUT
18:51 COIN & HOOD