Not looking good for Strategy. The measured move is $30 but they will likely will find a bottom before that.
But more importantly,
watch how bitcoin reacts to this.
If bitcoin can hold $60k that would be a massive sign of strength.
$MSTR
$btc broke out from the ascending triangle and we have an intraday breakout of the bear market diagonal.
$eth looking similar but has not traded above the diagonal yet.
Similar charts for $eth and $btc.
Timeline is bullish while we are at resistance in a down trend.
Best guess is that we break out then we watch for continuation or a fakeout.
The first leg down was 26%.
The second leg down was 31%.
A third leg down would likely retrace the entire $btc ETF pump.
Resulting in a great area for long term buys.