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MSTR is on a point of significant confluence

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MSTR is on a point of three major confluences. To lose this level would mean we are going much lower. However, I expect at least a significant bounce from here.

  1. we have the blue channel that previously acted as resistance and recently turned into support.
  2. we have the current orange channel
  3. we have the -.272 fib level, after hitting the -1.618 Nov 2024


RSI also looks like a bottoming pattern, but that needs to play out some more to be confident.

I would not be surprised if we retest the underside of the -.618 around $315 in short order. If we lose this level, it could get really nasty to the downside.
Trade ist aktiv
a bit of a zoom on that support. Snapshot

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