$MSTR BULLTRAPThis chart highlights a significant move in MicroStrategy (MSTR) with key levels, patterns, and possible future price action. Here's a detailed analysis for TradingView:
Technical Analysis:
Historical Price Move (3 Months Ago):
Price started at $100 three months ago and surged to a high of $543.60, marking an impressive 429.44% (379.39%) gain.
Key Levels:
High: $543.60 (marked as 1 on the Fibonacci retracement).
Fibonacci Levels:
0.786: $453.87 (currently acting as a key resistance).
0.618: $383.43 (close to the current price; could act as support or resistance depending on price action).
0.5: $333.95 (next major support).
0.382: $284.47 (further downside support).
0.236: $223.25 (demand zone).
Recent Events:
On 21st November (Thursday), the price hit its peak and began a significant pullback.
A Bull Trap occurred, catching buyers off guard as the price reversed sharply after the rally.
Market Structure:
Multiple BOS (Break of Structure) points indicate bullish momentum earlier, but the pullback suggests a shift in sentiment.
Current price action shows consolidation near the 0.618 Fibonacci level, suggesting a decision point for the market.
Demand Zones:
Near $100: Strong demand zone where the rally initiated.
Around $223-$284: Potential zones of interest for buyers if the price retraces further.
Trade Ideas:
Bullish Scenario:
If the price holds above the 0.618 level ($383.43) and breaks above $453.87 (0.786 level), it could retest the highs near $543.60.
Bearish Scenario:
A breakdown below $383.43 could trigger a move towards $333.95 or even $284.47, aligning with the Fibonacci and previous demand zones.
Key Considerations:
Watch for volume spikes to confirm direction.
Monitor macroeconomic events or Bitcoin movements (as MicroStrategy holds significant Bitcoin reserves).
