Bitcoin Stock Strategy— Buy Or Sell? What Technicals Reveal For Michael Saylor’s MSTR?
Strategy Inc. (NASDAQ:MSTR), a stock popularized as a proxy for Bitcoin (CRYPTO: BTC), received mixed signals from key technical indicators Thursday.
What happened: According to the market analytics platform TradingView, the simple and exponential moving averages across and above the 30-day timeframe produced a “Buy” signal for the stock.
A moving average calculates the average price of a financial instrument over a specific period. If the price is above the moving average, the trend is upward. If the price is below the moving average, the trend is downward. Traders use moving averages to identify entry and exit points.
Moreover, the Bull Bear Power indicator, which measures the strength of buyers and sellers, also signaled “Buy.”
See Also: Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — ‘Gold Used To Be That Money, BTC Is The Challenger’
InvestXOS, an investment-focused X account, said MSTR was building “serious momentum” with a potential cup and handle formation on …
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