MSTR Rebounds 10% as Bitcoin Taps $69K

Strategy Inc stock has rebounded sharply to $104.25 after hitting a session low of $94.30, thanks in large part to Bitcoin's surge past $69,000.

The correlation between Strategy Inc and Bitcoin is clear, given the company's heavy exposure to the cryptocurrency through its balance sheet.

However, experts caution that this bounce may not be a reversal of the long-term downtrend. The daily chart shows price remaining below both the 50-EMA at $105.39 and the 200-EMA at $161.67.

Momentum indicators are mixed, with the daily RSI at 55.74 reflecting neutral momentum while the MACD histogram has turned positive at 0.99.