MSTR is Making Bitcoin's Drop Look Subtle

As Bitcoin goes so does Strategy (MSTR). Except it is often much more accelerated.

It's wild to think MSTR was above 500 a little over a year ago, where it topped. Now trading at $133....the drop has been rather severe.

Where is the bottom?

https://img.leopedia.io/DQmS4PJ3yi3YKrLxKUe3EoCP5Mx8zFrNRoBNEeZCoZqwnnc/image.png

Looking at the daily chart I can tell you this....when it broke that 150 area support last week the next stop looked to be 115, give or take a few points. It got as low as 126 in today's trading session so its already in earshot.

MSTR does have earnings after the close Thursday, so there is hope of a positive catalyst based on what they report. Otherwise, the stock is waiting for a bitcoin bounce.

Posted Using INLEO