Dude, Where's My Support Level?
Updated
Ah good ol Saylor's BTC position will apparently face a margin call at $21,000. Just wanted to take a look at potential downside that is within the realm of historical possibility. The most severe pullbacks have sat in the 70-85% range. If we take a look and simply just map it out, $11,000 would certainly shake the hell out of the tree which is 84% down from the ATH.
This is all just one week/month at a time and IF we keep selling, Ill be looking at that yellow trend line to see how price reacts, which currently sits at about 77% down from the highs.
Quite something that the margin call level is basically just above technical support...
Stay sharp out there.
This is all just one week/month at a time and IF we keep selling, Ill be looking at that yellow trend line to see how price reacts, which currently sits at about 77% down from the highs.
Quite something that the margin call level is basically just above technical support...
Stay sharp out there.
Note
The latest developments on the margin level.Saylor's Tweet May 10th 2022:
"MicroStrategy has a 205M term loan and needs to maintain 410M as collateral.
MSTR has 115,109 BTC that it can pledge. If the price of #BTC falls below $3,562 the company could post some other collateral. See slides 11-12 in Q1 2022 presentation. #HODL"And from their earnings presentation:
"As of March 31, 2022, the original cost basis and market value of MicroStrategy’s bitcoin were $3.967 billion and $5.893 billion, respectively, which reflects an average cost per bitcoin of approximately $30,700 and a market price per bitcoin of $45,602.79, respectively."
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