some points about this announcement that seem to have gone under the radar:
1. previous monday saylor announced that his company acquired no new bitcoin in the preceding week, as it was preparing to report Q2 results. i said back then that they’re likely to go back to buying in size following that, and that the buying pressure would finally allow us to break resistance. that’s how i knew we were likely to break ATH last week.
2. note the average price is $111,827, much lower than the current price of around $120,000, meaning most of the capital was deployed around previous resistance. the explosive move that followed the ATH break was actually not driven mostly by saylor, he did most of his buying before that. what happens when he actually deploys again this week when we’re past resistance? you’re about to find out
3. the funding for last week’s purchases came from issuing and selling MSTR shares. since we know most of it happened before the previous ATH break on july 8th, we can look at the MSTR chart and see that MSTR price hovered around $400 in that time period, following previous upwards momentum, implying that saylor was heavily selling MSTR over that time period. again, if you were paying attention at the time, you’d know that the btc breakout would be imminent based on that information alone
4. as saylor’s BTC purchases slowed down after july 8th, MSTR sell pressure ended and it was allowed to go higher in price to its current price of $450. i’d imagine that this breakout provides enough momentum for saylor to do more ATM MSTR sales this week, and i’d expect the resulting btc move to be even more explosive given there’s no resistance in sight.
hopefully this helps you understand why it’s absolutely crucial to pay attention to MSTR if you’re interested in trading this market
thank you for your attention to this matter!
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