I suspect (well truth be told, irresponsibly long mstr group) believe that mstr has been selling ATM mstr shares and loaded up more than $7B-$10B+ Either today or over the weekend, mstr will buy over 50k bitcoin to push the price to $100k and provide buy support for as much selling as possible post $100k bitcoin Hopefully enough to get a momentum breakout for bitcoin to stay above $100k **** no financial advice, all speculation for entertainment, of course ****
Come on! Move faster!!! Just $150 to $100 000! Then I can look for opportunities to short it. I have done swing trading for decades. Time for me to consider swing trading again.
Well that's good to know. I was thinking about shorting near 100K, but I figured that would be too risky. This market is way too heated and we might just keep plowing through.
The target price, for the time being, will be around 110K. But I'm thinking we'll be pulling back down to the mid to lower 80K and then turn right around and go up to 110K. I feel it's already a bit overextended and frankly too damn crowded with too many weak hands. Hence, why I've reversed course, but we shall see.
This past Monday, Nov 18, mstr made a surprise announcement of 51k bitcoin purchase at a cost of $4.6B A week before, Nov 11, mstr made a surprise announcement of 27k bitcoin purchase at a cost of $2B No one asked where the money came from The money is from their ATM share offering announcement of $21B the largest on record by any public company, but this is within a 3 year plan... at the rate mstr is selling their shares at the market, they may completely sell out the ATM offering by eoy 2024 Based on the volume, past few days of trading, mstr is selling ATM shares, add to this the $3B debt convertible that closed yesterday, that's where the $7B-10B+ that mstr could be ready to deploy and buy bitcoin today or over the weekend push bitcoin to $100k and higher or provide buy-support The key is to get other players in the momentum sentiment trade, i.e. Blackrock and other spot etf's, and other corporations to participate in the buying frenzy