Chart of the Day: MicroStrategy (MSTR) Could See Higher Highs

Posted by Ian Cooper | Jun 25, 2023 | Chart of the Day | 0 |

If Bitcoin can continue to push higher on BTC ETF speculation, keep an eye on stocks like MicroStrategy (MSTR). While MSTR is pricy at $329.11, it could see higher highs, as it continues to track and push higher with BTC. That’s because – as of April 5 – MSTR held about 140,000 BTC at an average price of $29,803 per coin.

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Better, according to CryptoSlate.com, “With Bitcoin trading at $30,245 as of press time, the American company’s BTC holdings are now worth more than $4.2 billion, and it is sitting on over $30 million in unrealized profits from its investment.” If MSTR can break above resistance at $347.63, it could challenge $358.32 next. MSTR last traded at $329.11. Longer-term, we’d like to see MSTR run back to $500 a share.

Sincerely,

Ian Cooper

About The Author

Ian Cooper

Ian Cooper is an expert options trader with decades of experience, and a special talent for predicting big market moves. Together with TradeWins Publishing, Ian shares exactly how you can follow in his footsteps to potentially find huge profits in today's markets.