Bitcoin and MicroStrategy Get Ready To Launch Higher

Bitcoin and MicroStrategy are currently setting up in a fashion that makes me believe they are both ready to explode higher. First, when looking at Bitcoin, I was greatly impressed by the way it held up during the April market decline. This sign of relative strength shows a reluctance by those who own Bitcoin to sell. In addition, with general conditions greatly improved since then, it makes sense to buy that a “risk on” market will favor Bitcoin. Couple that with the fact that Bitcoin has historically performed exceptionally well in the post-halving year, and it’s hard to not be bullish now. What’s particularly  fascinating to me is that the average person is NOT bullish on Bitcoin now. In fact, they don't even seem to care at all. Take a look at Google Trends. There really has not been much interest in Bitcoin even with it approaching all-time highs. This is an excellent sign since this lack of interest means there is money on the sidelines that will eventually be put to play should Bitcoin start to rally.

              MicroStrategy is also setting up well in a very large cup and handle base. This is a stock that is extremely volatile, but can really explode if Bitcoin launches higher. I’ve owned Bitcoin since January 2023 and opened up a position in MicroStrategy today with a stop loss around $369 to limit my risk should the trade sour.

Risk right. Sit tight.

Full Disclosure: I currently own Bitcoin, IBIT, and MicroStrategy.

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