On one analysis, we can see, plain as day on $MARA, two distinct highs from the March 2020 low. Regardless of how you want to count it internally, it has the appearance of two peaks. And whether we like Elliott Wave Theory or not, it is hard to deny the very basic tenet: the market impulses in five waves and corrects in three. If this count is correct, we should see one more high. How high will it go? I don’t know, but we know that the prior high should be breached, and so that gives us a juicy target to aim for and it’s 60% above us, despite what the distorting effects of log scale might make us question on this chart.
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