This is a technical analysis analysis of the Coindesk analyst and rented market technician OMKAR Godbole.
A leveraged background (ETF) (MSTR) (ETF) leverage (MSTR) (ETF) of leverage in the United States increased last week, which suggests a potential bearish perspective for Bitcoin (BTC) and MSTR.
Defiance Daily Target 2x Short Mstr ETF, listed under the SMST ticket in Nasdaq, increased 19%, its best performance since the end of February, according to Data Source TradingView. It was also the third consecutive weekly gain, the first instance of this type from the ETF debuted in August last year.
That is not all, the 19% increase pierced the bassist tendency line, which represents the collapse since September 2024 of around $ 2,368 to less than $ 20. The so -called bullish outbreak is clearly visible in a list of weekly long -term candlesticks. The logarithmic scale is used for assets that have experienced exponential price movements, such as SMST.
The rupture of the macro -level trend line is backed by a powerful bullish signal in the form of a bullish sailor, indicating that buyers firmly had control last week and the impulse is now decisively on the rise. The bullish Marubozu candle is identified by a prominent green body and small wicks (shadows), indicating the domain of the buyer.
The general conclusion for merchants is that the SMST is suggesting a dour perspective for strategy and bitcoin. The strategy is the head of Bitcoin of the largest public list, which has 628,791 BTC, with a value of more than $ 71 billion, at the time of writing.
The SHORT 2X ETF seeks to deliver daily investment results that are -200%, or less 2x, the daily percentage change in the price of MSTR shares. The background represents an leverage bassist bet in Mstr.
The ETF has seen a net entrance of 16.3 million in the last six months, according to the Vettafi data source. Meanwhile, his bullish partner, the 2x Long MST fund (SMST), has seen net exits of more than $ 275 million.
Read more: Bitcoin ETFS bleeds millions for the fourth consecutive day while the fears of the US staplation. They weigh on BTC and stocks
