Bitcoin and MSTR (Microstrategy) shake and jive well together.
If we look at the MSTR chart we have a couple things going on:
- Square Out – WD Gann said you could square out a high, a low or a range. In this case, we took the range of the move from the high to low and converted that to calendar days. That gives us a DATE of 9/30/2024. The ‘perfect’ scenario would be for PRICE to be at the BUY PATTERN level shown on 9/30. We shall see …
- Take a look at the RED MEASURED MOVE – it lands right on top of the projection and a .618 retracement. We like that ..
- The second chart is some more work looking for the key levels – shown in Green for MSTR.
- Last, took LOG SCALE measured moves and, in doing that, shows a nice target appearing higher on MSTR.
- Certainly looks like a ‘valid’ 5 wave count so I do feel confident in saying – be cautious – as this 5th wave could have ended but certainly looks like it wants to make another run higher …
- IF this PATTERN fails on MSTR then would expect the support to give away on Bitcoin futures. If it holds, then we “should” be off to new highs into the target areas shown for Bitcoin.
Nice one. I actually understood you…I think.
I cannot wait for BTC to bottom… Great analysis!
you know me and counting – this one sure seems like a “Ray Charles” count Jerry … so sure looks like a 5th. wouldn’t this be really crazy is this is JUST WAVE 1? anyway, going to be really interesting a little lower …maybe it’s already bottomed and starting back up? just want the PATTERN to complete …