CRCL, COIN and MSTR Forecast – Crypto Stocks Look Mixed

CRCL Technical Analysis

Circle gapped during the previous session on Tuesday and just fell right out of the sky as earnings were weaker than anticipated. In the early hours of Wednesday, it looks like we will continue to see a bit of selling and I think ultimately, it’s difficult to suggest that it’s a simple buy on the dip play, at least at the moment. But I do recognize that there are a couple of lines that you can put on the chart to guide you near the $145 level. And then maybe again, down to the $130 level. I think buying the dip on a bounce is probably how Circle will play out.

COIN Technical Analysis

Coinbase looks like it is going to rally slightly based on pre-market trading on Wednesday. The 50-day EMA is an indicator that a lot of people will be paying close attention to, and if we can break above there, then the $340 level gets targeted. After that, market participants could drive this all the way to the $380 level above, which is the top of the gap lower. Any pullback at this point in time probably will run into pretty significant support near the $300 level as well, as we have seen that area be important multiple times in the past.

MSTR Technical Analysis

And finally, MicroStrategy is looking likely to rally a bit during early pre-market trading here and ultimately could go looking to the $425 level. Keep in mind that earnings recently were released about two weeks ago. They were positive and of course, Bitcoin is doing everything it can to break above the $120,000 level. If it can sustain momentum above that level, that should drag MicroStrategy all the way up to the $425 level, possibly even $460. Short-term dips look like they will end up being buying opportunities in what has become a favorite way to play the Bitcoin market.

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