Hi traders,
There’s a high probability that MSTR will move lower from here. Friday’s session will determine its direction, as the weekly candle is forming a shooting star, but getting in early isn’t a bad idea.
The BTC chart also looks bearish— the 0.618 Fib level from the previous high and low has been acting as resistance for several days. We need to watch if the 50 SMA will hold as support, but I don’t think it will, given my bearish outlook on SPY.
My target is 250 area, 200SMA will act as support.
May the trend be with you.
AP
There’s a high probability that MSTR will move lower from here. Friday’s session will determine its direction, as the weekly candle is forming a shooting star, but getting in early isn’t a bad idea.
The BTC chart also looks bearish— the 0.618 Fib level from the previous high and low has been acting as resistance for several days. We need to watch if the 50 SMA will hold as support, but I don’t think it will, given my bearish outlook on SPY.
My target is 250 area, 200SMA will act as support.
May the trend be with you.
AP
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.