An interesting zone, yes.
But here's the deal...
Support levels break during downtrends, by the very definition of downtrends producing lower lows.
This level won't hold.
Watch.
Heisenberg
@Mr_Derivatives
$MSTR relative to $QQQ.
Near fresh multi yr lows.
But in an interesting landing zone now...
hmm.
You see how this "breakout, retest, rebound" setup failed for MSTR/QQQ?
That's because bullish setups only work in bull markets.
And MSTR is not in a bull market, on either an absolute or relative basis.
So support levels break.
That one broke... this one will too.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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