MicroStrategy Drops $369 Million on 4603 Bitcoins

MicroStrategy has made its first major acquisition in ten weeks, purchasing 4,603 Bitcoin for $369 million. This significant move follows a period of relative quiet from the company. According to data, Bitcoin currently trades at $80,404.48 within its Bollinger Bands on the 4-hour chart.

The upper resistance for Bitcoin is set at $79,706 and lower support at $76,844.45, while technical indicators suggest a mixed picture. The Exponential Moving Average (EMA) 50-day at $77,340.95 and EMA 200-day at $70,967.6 both point to a bullish broader structure.

However, the MACD death cross at -65.51 signals short-term momentum loss, while the Relative Strength Index (RSI) remains neutral at 47.83. Price action near the upper band with flat momentum suggests a potential retracement toward the 50-EMA support before any continuation higher in this cycle.