MicroStrategy (MSTR:NASDAQ)

MicroStrategy is a shining example of a pure crypto-equity play. With an impressive stash of roughly 132,500 Bitcoin as of the end of 2023, owning shares in the company is akin to owning a piece of the digital currency itself. And with an average purchase price of $30,397, it’s only a matter of time before the company reaches a breakeven position. But that’s not all that’s worth mentioning about this forward-thinking firm. MicroStrategy’s recent authorization to operate under FedRAMP guidelines for their MicroStrategy Cloud for Government platform highlights just how dedicated they are to fully embracing technological advancements. 

Additionally, the company’s new tech unit that focuses on the Lighting Network, a payment protocol for Bitcoin, shows that they’re always on the lookout for the next positive move. It’s no wonder we’re bullish on MSTR, so long as the stock remains above $220.00-$225.00. With an upside target of $350.00-$360.00, we’re eager to see where the future of this dynamic company takes us.

Gold Spot / U.S. Dollar:XAU/USD

On the weekly timeframe you can see that Gold just recently retested a quite strong previous weekly resistance area exactly at $2000 and already rejected this zone towards the downside.

You can also see that Gold is currently testing a previous weekly resistance level that has since turned into support at exactly $1945. Because the overall market structure is still bullish, we are just waiting for a clear break above the $2000 resistance level before expecting more upward movement.

Ethereum/Bitcoin (ETH/BTC)

The ETH/BTC ratio chart is refusing to break down!

It keeps bouncing off its diagonal trend line. If bitcoin continues to consolidate sideways, we expect the ratio to start moving up, which would mean altcoins would start bouncing.

CRYPTOCAP:TOTAL

The TOTAL has been moving over the past two weeks between a support level of $1.09 trillion and a very challenging resistance region of about $1.17 trillion.

If we want a clear indication of where the market is going to head, the TOTAL needs to exit that range. 

The range low support is at $1.09T, the next support is at $1.12T, and the next key resistance level is at $1.2T from the current level of $1.154T.