Yesterday, MicroStrategy announced an increase in BTC holdings, followed by a brief rapid decline overnight with the U.S. stock market opening lower.
Since being selected for the NASDAQ 100 this year, MicroStrategy's stock MSTR has seen an increase of up to 800% within the year, and so far still has a 400% increase. The company's overall earnings come primarily from the yield of BTC, which moves in tandem with BTC.
Back to the market, the rapid decline last night broke the previous low in a small scale, and then quickly recovered. Yesterday's post reminded not to chase shorts, especially in positions close to support levels. The common tactic used by the main force is to hunt down opponents to gain liquidity in this way. It almost triggered the stop-losses of bulls during this downtrend. Subsequently, a rebound began during the day. It broke through the descending channel, and the rebound has not yet ended. An ideal situation would be to test the upper edge of the range upwards.
Several positions that need attention
Support position
First position 94071-93683
Second position 93269
Third position 92700
Resistance position
First position 95000 (currently testing)
Second position 95751
Third position 97100-96750
Daily market analysis, like and follow to stay on track.