Blockchain Early Mover Could Be Squeezing Toward a Breakout: Chart Study

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Cryptocurrencies are in focus this week as Coinbase prepares its direct listing tomorrow. Meanwhile, another early mover in the space has some interesting chart patterns: Microstrategy (MSTR).

Notice how MSTR has squeezed into an increasingly tight range since its big rally in February. Bollinger Band Width has contracted to 28 percent, its lowest reading since mid-December.

The narrow price action is also visible on this weekly chart. Notice the inside candle at the end of March, followed by continued moves higher…

For more, please click here to view the related idea and chart analysis on TradingView.

Microstrategy (MSTR), daily chart, with key patterns, courtesy of TradingView.
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