Despite Bitcoin hitting new all-time highs, MicroStrategy (MSTR) stocks remain stuck below resistance. A detailed technical analysis uncovers bullish signals that could drive the stock towards new highs.
As Bitcoin (BTC) continues to push towards new records, the MicroStrategy (MSTR) stock seems to be stagnating under a key resistance area. However, a thorough technical analysis reveals a bullish market structure. It could soon allow MSTR to follow Bitcoin’s momentum.
The main support zone for MSTR is around $362.50. It is a technical confluence including the bottom of the value area, the 21-day exponential moving average, and the 200-day moving average. Since its recent low, the stock has formed a market structure characterized by rising highs and lows. This is a classic sign of a bullish trend.
The decreasing volume on MSTR suggests a short-term consolidation, followed by a potential influx of buyers. If the current resistance is broken, or holds after a correction, an expansion towards new all-time highs becomes highly likely. The technical alignment between MSTR and Bitcoin reinforces this bullish scenario.
If MSTR manages to stay above the $362.50 support zone or breaks the current resistance directly, the chances of a new uptrend significantly increase. Traders should watch for either a structured correction or a clear breakout, as both scenarios support the continuation of the positive trend.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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