This is an article of technical analysis by the Coindesk analyst and technician of the approved market Omkar Godbole.
An exchange fund (ETF) with strategy effect (ETF) with strategy effect (MSTR) increased last week, suggesting a potential bisongeante perspective for Bitcoin (BTC) and MSTR.
The Daily Target 2x Short MSTR ETF de Fifiance, listed under the SMST Ticker on Nasdaq, has increased by 19%, its best performances since the end of February, according to Data Source TradingView. It was also the third consecutive weekly gain, the first example since the ETF made its debut in August of last year.
That’s not all, the overvoltage of 19% has pierced the downward trend line, representing the collapse of September 2024 of around $ 2,368 to less than $ 20. The so-called bullish escape is clearly visible on a long-scale weekly graphic. The logarithmic scale is used for assets that have experienced exponential price movements, as is the case with SMST.
The rupture of the trend line at the macro level is supported by a powerful bullish signal in the form of an updated Marubozu candle, indicating that buyers were in closed control last week and that the momentum is now decisively increasing. The Marubozu bullish candle is identified by a prominent green body and little or no wicks (shadows), indicating the domination of buyers.
The overall installation for merchants is that SMST suggests an austere perspective for strategy and bitcoin. The strategy is the largest Bitcoin holder on the stock market, having 628,791 BTC, worth more than $ 71 billion, at the time of the editorial staff.
The 2x ETF short seeks to provide daily investment results which are -200%, or less 2x, the daily variation in percentage of the MSTR action course. The fund represents a lever effect betting on MSTR.
The FNB has seen a net influx of 16.3 million in the last six months, according to the Vettafi data source. Meanwhile, his bullish counterpart, the 2x long MSTR fund (SMST), experienced net outings of more than $ 275 million.
Read more: FNB Bitcoin bleeds for millions for 4th consecutive day while American stagflation fears weigh on the BTC and stocks
