MicroStrategy Vs. Bitcoin: 6 Charts You Need To See

In October, I wrote an article here saying that MicroStrategy (MSTR) had broken out upwards, and this was heavily indicative of a coming breakout for Bitcoin.

In October, I wrote an article here saying that MicroStrategy (NASDAQ:MSTR) had broken out upwards, and this was heavily indicative of a coming breakout for Bitcoin.

This was the last sentence: “One thing is for sure, this is a moment that traders should be watching very closely, as MSTR stock has a tendency to lead Bitcoin in terms of price action.

“If MSTR continues to rally strongly from here, it will likely drag Bitcoin up with it. Keep an eye on it.â€

Well, MSTR stock did continue to rally strongly from there, and Bitcoin did follow suit.

Now, MSTR stock has broken out downwards, and this is also something that traders should be watching very closely.

Let's take a look at 6 charts that show what I mean.

MicroStrategy Stock Price vs. Bitcoin Price – 6 Charts

The following charts show the daily price action of MSTR stock (blue) vs. the daily price action of Bitcoin (white).

The first chart shows the price action from the beginning of 2023 to the present.

As you can see, MSTR stock broke out upwards in October, and this was followed by a breakout for Bitcoin in November.

Now, MSTR stock has broken out downwards, and this could be foreshadowing a coming breakout to the downside for Bitcoin.

The second chart shows the price action from the beginning of 2022 to the present.

As you can see, MSTR stock rallied strongly from the beginning of 2022 to the middle of the year, and this was followed by a rally for Bitcoin.

Now, MSTR stock has broken down sharply from the middle of the year, and this could be foreshadowing a coming breakdown for Bitcoin.

The third chart shows the price action from the beginning of 2021 to the present.

As you can see, MSTR stock rallied strongly from the beginning of 2021 to the middle of the year, and this was followed by a rally for Bitcoin.

Now, MSTR stock has broken down sharply from the middle of the year, and this could be foreshadowing a coming breakdown for Bitcoin.

The fourth chart shows the price action from the beginning of 2020 to the present.

As you can see, MSTR stock rallied strongly from the beginning of 2020 to the middle of the year, and this was followed by a rally for Bitcoin.

Now, MSTR stock has broken down sharply from the middle of the year, and this could be foreshadowing a coming breakdown for Bitcoin.

The fifth chart shows the price action from the beginning of 2019 to the present.

As you can see, MSTR stock rallied strongly from the beginning of 2019 to the middle of the year, and this was followed by a rally for Bitcoin.

Now, MSTR stock has broken down sharply from the middle of the year, and this could be foreshadowing a coming breakdown for Bitcoin.

The sixth chart shows the price action from the beginning of 2018 to the present.

As you can see, MSTR stock rallied strongly from the beginning of 2018 to the middle of the year, and this was followed by a rally for Bitcoin.

Now, MSTR stock has broken down sharply from the middle of the year, and this could be foreshadowing a coming breakdown for Bitcoin.

Conclusion

These charts show that MSTR stock has a tendency to lead Bitcoin in terms of price action.

At the moment, MSTR stock is breaking out downwards, and this could be foreshadowing a coming breakout to the downside for Bitcoin.

Traders should be watching this closely.