STRC continues upward trend despite bitcoin weakness, James Van Straten notes

STRC continues upward trend despite bitcoin weakness, James Van Straten notes
STRC posts higher lows as bitcoin drops

James Van Straten points to recent trading patterns, observing that the capitulation candle in STRC has tended to align with local lows in bitcoin, as seen late last week.

He notes that STRC continues to establish higher lows while bitcoin has trended downward over the past seven months. Additionally, STRC recently bounced off its 200-day moving average.

Van Straten previously reported that Strategy retired $3 billion in convertible debt below par, reducing its dilution risk by nearly 20 percent. In a separate note, he observed that markets expected a Federal Reserve rate hike as strong capital expenditure spending made a recession appear unlikely. These recent observations come as he tracks technical moves in STRC and bitcoin.

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