novamatic

Long MSTR off 61.8 and bottom of channel at $455

Long
novamatic Updated   
BATS:MSTR   MicroStrategy
Pretty simple setup. You can see the channel that we've formed (white arrows for highs/lows) and the fib retrace that align perfectly with this level.

What do you think?
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If this level fails, I see downside to close the gap at $380 from October. This would put us on the original channel bottom, in about a month. Perhaps we get there, anyway, with a bounce here off the 61.8...
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Trade looking good. Here's where we could end up if we complete a move back to the top of the channel.
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This is working very well for me.
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Quick update for ya'll. Redrew the trend with expectations for pullback and next leg up. If you're in with me from $455, congrats
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well, if you joined me in this move, you are now up over 50%! We are now at ATH on MSTR, and bitcoin is just over 50K. As you can see, this move is straight up. I'm expecting some sort of pullback at ATH. But this market has been a bit crazy, so who knows. I've taken 1/3 of my position off at this level.
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Something else to watch. COIN is making similar moves and looks like it is heading quickly toward target at $225. I'll be watching closely to see if both COIN and MSTR break out and up over this channel trendline.
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Trade closed: target reached:
Hello. MSTR crushed it. I just exited 90% of my position for 130% gain. If you were in on this one, congrats.