Chart of the day

Where do we stand fundamentally?

MSTR published a loss in the Q2 of 2024 which is not a surprise as it is heavily invested in cryptocurrencies, especially Bitcoin. It is in the same consolidation as the BTC.

MSTR is supported by the 131.50 level for a ride to 184 resistance which is the most important resistance for a continuation higher in the third upside long-term wave and to complete a complex triangle consolidation in the second wave. We need to see a break above 184 for the upside continuation in the third upside wave to happen. and gain traction.

An invalidation level of a third-wave long-term extension higher and a bullish cycle is 65. As said this extension higher could lead to 300 and 500 targets in the medium-term to long-term if we get a confirmed break above 185.

_{Try a long trade entry with a stop loss below 100 to target 300 and higher upon a break above 185.}