Take a look at these strategy price levels, while the shares continue to rise next to Bitcoin

Shares of the strategy (MSTR), the world's largest company owner of Bitcoin, which until recently was known as a microstrategy, rose again on Tuesday when the digital currency increased.

The stock, which enables investors a bet at the price of Bitcoin, had received a thrust of starting the week after the company announced the last purchase of the cryptocurrency. According to a regulatory submission on Monday, strategy bought 7,390 Bitcoin between the 12th and 18th May, whereby the total amount was taken to 576,230 BTC, which is currently worth more than 61 billion US dollars, based on Bitcoin's latest price.

Strategy shares have increased by 75% of their April low and pursued a recovery of the price for Bitcoin and other risk assets, since investor concerns have subsided with regard to global trade stresses and their potential economic effects. Bitcoin rose over 107,000 US dollars on Tuesday, reached its highest level since January and approached his record high of a little more than 109,000 US dollars.

In the following we take a closer look at the weekly diagram of the strategy and apply technical analyzes to point out the most important price levels that investors will probably observe.

The focus is on record high

A Bullisches Golden Cross pattern has been formed since the 50-day moving average (MA) above the 200-day MA in January last year, strategy shares have further developed.

In the course of April and May, the share has recently come back to its record high in March after a withdrawal to the 50-day MA. However, it is worth noting that this step has occurred in a significantly fewer trading volume than the two previous requirements, which indicates that larger market participants may remain marginally.

Let us identify two important overhead areas in the strategy table to observe whether the stocks are continuing their bullish step and at the same time find decisive support levels that are worth monitoring during corrections.

To observe important overhead areas

A higher step of current level could bring the level of 440 US dollars into play. This area can offer a overhead resistance near a short consolidation period, which was set up in the diagram shortly after the stock's essay last November.

In order to forecast an overhead area, which is to be observed whether the shares change to the price discovery mode, investors can use the beam pattern tool. We apply this technology by removing the prices from the trend change of the share from September to November and reposition it from the beginning of the current upward trend. This analysis, which predicts how a move has a higher impact when price campaign rhymes projects an upward trend of around 945 US dollars.

Decisive support levels worth monitoring

During a correction of the stock, investors should first monitor the level of USD $ 230. This location on the map could attract the purchase interest near February and March troughs and also align the share in the stock at the end of October in the stock.

After all, a larger decline in strategy shares could test that tests lower support of around $ 180. Investors may be able to try to issue purchase limits in this region near a trend line that connects three peaks that were formed on the table between March and July last year.

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Until the date on which this article was written, the author has none of the above securities.