MSTR, COIN and MARA Forecast – Crypto Stocks Flat in Premarket Trading

MSTR Technical Analysis

MicroStrategy of course is front and center and it looks like it’s going to the upside, but really not enough to make much of a difference in the analysis. MicroStrategy seems like it is stuck in consolidation right along with Bitcoin, which makes sense because it is a proxy for Bitcoin. In fact, at this point, I don’t even know if the company does anything other than hold Bitcoin.

So, most traders who for whatever reason institutionally are restricted from holding Bitcoin, they will use MicroStrategy as a proxy and that’s what you’re looking at here. The $270 level underneath offers a significant support level, but it’s also a pretty decent drop from where we are at. We’re currently hanging around the 50-day EMA, but it doesn’t look like we have anywhere to be at the moment.

COIN Technical Analysis

Coinbase looks a little bit to the upside in pre-market trading, but again, it’s  simply bouncing from a significant pullback into a large cluster of trading. So, while Coinbase looks like it will probably grind higher, the keyword here is of course going to be grind.

I don’t think we get a shot higher and I think also the best trade here is going to be buying the dips, if and when you get the opportunity.

MARA Technical Analysis

Mara Holdings is basically flat at the pre-market hours in Friday’s trading. We are in the midst of a bearish flag, so that’s somewhat interesting. The cryptocurrency miner continues to see a lot of back and forth sideways nothingness going on, and I think that’s a good proxy for the markets overall.

I don’t know if crypto is ready to take off again. Mainly due to the fact that there are a lot of questions about regulation in the United States, so all things like this run downstream, so it would make sense that Mara struggles to really gain traction. I think you have a lot of Brownian motion here.