MicroStrategy's stock (MSTR) has formed a rare 'abandoned baby' pattern, indicating a potential bullish reversal amid recent Bitcoin volatility. This technical pattern emerged after a period of selling pressure and a decline in the company's modified net asset value (mNAV) below 1.00. The pattern was confirmed on December 3, as MSTR's stock price rose above its previous range, coinciding with Bitcoin's drop from its all-time high of $126,000.
According to Matthew Sigel, VanEck's head of digital assets research, this pattern suggests that MSTR may have reached a bottom. However, the sustainability of this recovery is closely tied to Bitcoin's performance, as the stock remains sensitive to macroeconomic factors and global liquidity changes.
MicroStrategy Stock Forms 'Abandoned Baby' Pattern, Suggesting Bullish Reversal
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
