Yogigolf
@t_Yogigolf
What symbols does the trader recommend buying?
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Eventual destination for Bitcoin. Have we finally hit peak mania with MSTR and the Bitcoin reserve? No other crypto is making new highs, interest and momentum is fading in crypto and it’s turned out to be a complete nothing burger. Every “cycle” for bitcoin is smaller and small, it’s now near inline performing with the Nasdaq 100 since its last peak. If Bitcoin doesn’t outperform tech anyone, no point in owning it. Dump it.
With bitcoin looking to bounce and MSTR trading below its base value in bitcoin I believe it will have a bounce but likely find resistance in the low to mid 300s at the resistance trend line of the downtrend that is forming. Since MSTR is leveraged up on bitcoin I would expect to see them drop a lot more then Bitcoin. If bitcoin eventually goes low enough its possible for MSTR to go bankrupt so I believe they are a good way to get exposure to shorting the crypto space.
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