As Bitcoin goes so does Strategy (MSTR). Except it is often much more accelerated.
It's wild to think MSTR was above 500 a little over a year ago, where it topped. Now trading at $133....the drop has been rather severe.
Where is the bottom?
Looking at the daily chart I can tell you this....when it broke that 150 area support last week the next stop looked to be 115, give or take a few points. It got as low as 126 in today's trading session so its already in earshot.
MSTR does have earnings after the close Thursday, so there is hope of a positive catalyst based on what they report. Otherwise, the stock is waiting for a bitcoin bounce.