Microstrategy
MicroStrategy BreakoutMicrostrategy this morning purchased an additional 262 bitcoins for $15 million. They now hold more than 91,325 bitcoins. Given the rise in Bitcoin and the bull flag breakout on the MSTR chart, we believe the upside potential is greater than the downside risk. - HH
#Bitcoin: Still showing bullish signs, with strong news week.After Bitcoins crazy run up from 30,000-58,000 we saw an almost $10,000 retracement with many traders reacting in panic.
But is the run really over? I doubt it.
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Below i am going to explain some basic reasons why I think we are going upwards from here:
1. Institutional Interest
Many "High Profile" buyers are still interested and purchasing BItcoin such as Square, Microstrategy & Grayscale Investments.
2. Bullish Pattern
The Falling Wedge is a strong Bullish Reversal Pattern that may give us a good sign buyers are now in control of this market again.
3. Similar Price Action
The current Falling Wedge & Price Action is quite similar to that of $33,000 area, we had a Falling Wedge, aswell as institutional buyers towards the bottom of the pattern. Just like we are currently, as marked on the Falling Wedge forming from $58,000.
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1. Institutional Interest
Below I am listing current news which I think is definitely supporting the idea that the Buyers are in control:
The news is flowing HEAVY around Bitcoin and quite positive! The big guys are interested, and everyone is trying to get a piece of the pie now. The Demand outweighs the Supply.
Microstrategy Purchases more Bitcoin:
twitter.com
JP Morgan recommends 1% in Bitcoin:
techstory.in
Goldman Sachs opens Bitcoin trading again:
markets.businessinsider.com
Twitter Announces $1.25 Billion Convetible Notes Offering (Founder is a fan of Bitcoin, and Microstrategy had a similar offering to generate capital to purchase more Bitcoin:
apnews.com
Square payments buys more Bitcoin:
www.cnbc.com
Cititbank states Bitcoin could become the currency of Global Trade:
www.theblockcrypto.com
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2. Falling Wedge Pattern & Similarities in Price Action
In this pattern price swings 5 times between two converging trendlines while falling to form a “Wedge", this a potential sign the buyers are slowly taking control and we see a "breakout" to confirm this"
Works extremely well with Bulllish Divergence and the pattern has a high sucess rate. It often sweeps the lows at A before breaking out and this is the ideal entry point followed by the bullish retest (B).
Target is the top area of the pattern. Pattern tends to break out when around 60% complete and commonly off the 0.78 fibonacci level.
In the below images you can see the similarities between late January & Now. In January we had the Falling Wedge Pattern with a Tesla purchase, and now we have a similar pattern with a few other big names purchasing (Microstrategy, Square).
First example of the Falling Wedge (Note how Elon Musk purchased around the Bottom of this Pattern before the upwards move began):
Here we can see how once we had the breakout we had a strong upmove:
Here we can see a comparison of the current pattern:
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3. Conclusion
The most important thing to consider when investing and trading Bitcoin is the Fundamentals & Supply & Demand.. currently there is a huge Demand still for buyers of the Cryptocurrency as you can see from the above articles (they are all recent) and the potential signs on the chart as well the buyers are regaining control.. The use case for Bitcoin grows strong with the FED still printing and seeing more and more big names getting behind it every week.
These factors alone give us a high probability of a sustained upwards movement from here.
BTCUSD might soar as MSTR has added 19k+ BTCMicroStrategy MSTR just announced a couple of hours ago, they have purchased an additional 19,452 Bitcoin. This might send BTC souring to its new all time high.
MicroStrategy MSTR press release: microstrategy.com/en/investor-relations/press/microstrategy-acquires-additional-19452-bitcoins-for-1-026-billion_02-24-2021
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This content is for education purposes only. You should not execute any trade based on it. Please do your own research.
MSTR - too fast too soonMicrostrategy is at resistance. Fundamentaly my thesis says that biiger indices are going to decline quite soon. MSTR is low on usd and high in btc which should pull it down since mstr is currently priced high because of btc investment and not because of btc contribution
MSTR bull wedge - 1000+MSTR's announcement of a convertible note to buy yet more BTC seems to have put pressure on the name - presuably people shorting it while buying the convertible bond. This has formed up with a pretty text book looking bull wedge. This has a day or two to break to the upside - so long as BTC actually holds up, I see this going to 1000 or higher in the next few days.
Microstrategy easiest long of all time?MSTR is basically "Bitcoin ETF", there is no way MSTR does not go up from now, Michael Saylor knows what he is doing...
BTC: VCP and Ascending Triangle breakout: price target 60-65KADDED to my BTC trade position here. Ascending Triangle breakout around 49.8K. Volatility Contraction pattern printing on 1 hr and 4hr charts. Strong news about Microstrategy issuing debt for more bitcoin purchases (900 Million).
www.coindesk.com
Coiling up like a furious snake. Is it possible to fail here? Yes, but Michael Saylor just announced a 900 Million debt deal to buy Bitcoin, what price is he going to buy at?
Stop loss 10%. First profit target: 20%.
Raising stops to break even at 10-14% unrealized gain.
POTENTIAL $MSTR SWING! 🚀 (LONG)Microstrategy owns more than 70,000 Bitcoin on its balance sheet! We are getting a correction trace back to its .50 or .618 levels in this potential bull flag. After which, we believe it to reach to the top of the resistance. - HH
Microstrategy (MSTR) • A potential long term 🚀 trade The bullish case for Microstrategy. I map some important technical levels to pay attention to.
Sorry for the time it took to map some lines since Tradingview has this annoying bug and doesn't fully import saved settings of tool-templates.
What does the Fed have to do with Bitcoin?I wanted to share my fundamental take on a consequence of "mass adoption" among institutions. Bitcoin is being bought on debt financed by a low interest rate world. Trading cryptocurrency no longer means that traders and investors are immune from the wider economy. Unfortunately I think that cryptocurrencies may become influenced by interest rates...
Microstrategy to have a short-lived fall in the near termMicrostrategy to fall to the light blue line. If the crypto selloff continues and bitcoin reaches targets from $24,000 - $27,000, we may see Microstrategy touch the red line before any upside movement. Once the upside movement begins, the rally will be fun to watch - HH
Microstrategy 300% up since adopting #BTC as primary reserveMicrostrategy (MSTR) 300% up since adopting #BTC as primary treasury reserve asset
LIVERMORE'S SPECULATION FUNNELHola traders,
I hope you're all having a wonderful bull market thus far.
I originally stumbled across this idea early in this parabolic move, but didn't quite see it playing out. HOWEVER -I caught a tweet from @cryptohamster yesterday and it clicked.
Livermore's Speculative Chart
1 - 7: Asset is "coiling up" for a large move.
8: A bullish breakout of the rising broadening wedge (an otherwise bearish pattern) should allow one last point of entry before taking off (to the moon).
.. I believe we could be at point #8 right now, however there is a VERY REAL possibility that I am off by 1 count here, meaning we could be at POINT 7 RIGHT NOW -and we could be looking at a pretty severe correction before kicking off some more INSANE price action.
Some things to consider:
The last 4 weekends, BTC has rallied into late Sunday night -leaving CME gaps below PA each time, then experiencing a corrective move as markets open the following Monday.
Whales have been selling EVERY all time high over the last 2 weeks.
There's always a bearish possibility, and in this case -we could be looking at one final shakeout before the rocket ship takes off
-but with the total crypto MKCP nearing $1.1 trillion and BTC decoupling from the DXY -it's REALLY hard to be bearish on the BTC price right now.
RETAIL FOMO comin in HOT! We could be looking at a $150K BTC in Q1 of 2020... emphasis on "could".
Trade entries will be posted below -opened yesterday, however the plan has changed slightly -will be adding to my positions vs. taking profit. Keeping a trailing buy underneath of my SL.
ARE YOU BEARISH? .. or are you BULLISH?
I would love to hear your thoughts! (or read them).
Microstrategy idea with 30% return on investmentMicrostrategy bullish idea for a massive 30% upside. Microstrategy allows the use of leverage to invest 2x your cash for larger gains. Comes with more risk but bigger gains.. Who doesn't want more gains? - HHAnalaysts .. We are not a finciancial advising company. Please invest at your own risk.
