Is Microstrategy Squeezing Toward a Breakout?

Cryptocurrencies are in focus this week as Coinbase prepares its direct listing tomorrow. Meanwhile, another early mover in the space has some interesting chart patterns: Microstrategy.

Notice how MSTR has squeezed into an increasingly tight range since its big rally in February. Bollinger Band Width has contracted to 28 percent, its lowest reading since mid-December.

The narrow price action is also visible on this weekly chart. Notice the inside candle at the end of March, followed by continued moves higher:


Next, MTSTR is trying to break a downward-sloping trend line in place since late February.

Finally, MACD has been turning positive all month.

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