#分享美股交易赢英伟达股票

Bitcoin's extreme plunge has driven micro-strategy's pre-market drop of over 10%

Today, micro-strategy (MSTR) pre-market stock price is $137.05, a sharp drop of 9.15% from the previous day's close of $149.78, reaching a high of $142.80 and a low of $134.11 during the day. The total trading volume was 31.13 million shares, with a turnover of $4.27B, and a market capitalization of $47.69B. The price-to-earnings ratio (TTM) is in a loss state. As the largest Bitcoin holding company, micro-strategy has become a barometer for Bitcoin in the U.S. stock market. Today's sharp decline was largely influenced by Bitcoin's single-day drop of over 5%. With Bitcoin rebounding later, there is hope to recover the losses. However, excluding faith in Bitcoin, from a purely investment perspective, the little wealth god is not optimistic about micro-strategy.

‌Technical indicator analysis‌

‌RSI‌: Has fallen to the 33–37 range, entering the oversold zone, indicating short-term selling pressure has been overextended, but no clear bottom divergence signal has appeared;

‌MACD‌: The histogram remains negative and is expanding, with DIF and DEA lines forming a death cross below the zero axis, indicating dominant bearish momentum;

‌Bollinger Bands‌: The stock price has broken below the middle band (around $161) and is close to the lower band (around $135), with band width significantly expanding, volatility soaring, and trend losing control;

‌Moving Averages‌: The 5-day, 20-day, and 50-day moving averages are all in a bearish alignment, with the 200-day moving average (around $167) acting as a long-term resistance. The technical structure has shifted from a “bullish leveraged stock” to a “high-risk financial entity”;

‌Volume characteristics‌: Single-day turnover exceeded $4.2 billion, the highest in nearly three months, indicating institutional panic selling, abnormal turnover, and a panic sell-off.

Key support and resistance levels

‌Short-term support‌: $135–137, the day's low and psychological integer level, the last line of defense for bulls; if broken, the next support is at $120–125 (a dense area of lows in May 2026);

‌Medium-term support‌: $100–110, corresponding to the Q1 2026 plateau and the theoretical valuation lower limit if Bitcoin drops to $50k;

‌Short-term resistance‌: $142–143, the day's high and the lower boundary of the gap from the previous close of $149.78, the “death line” that must be broken for a rebound;

‌Medium-term resistance‌: $150–155, the convergence zone of EMA20 and the previous close, also an valuation anchor before the company's “buy-only” belief is broken.

I believe micro-strategy is not a good investment target in U.S. stocks. Instead of buying micro-strategy shares, it’s better to hold Bitcoin directly. The main reasons are fourfold:

‌1. Increasing financial pressure‌: As of May 2026, the company holds 818,334 Bitcoins, accounting for 3.9% of the global supply, but due to Bitcoin's price volatility, it recorded an unrealized loss of $14.46 billion in Q1 2026, with a net loss of $12.54 billion;

‌2. Deepening reliance on financing‌: Since 2026, the company has raised a total of $11.7 billion through issuing common and preferred shares (STRC). Its digital credit product “Stretch” has a circulation scale of $8.5 billion, leading to a more complex debt structure;

‌3. Increasing institutional disagreement‌: Although some analysts maintain a “buy” rating (target price $224–$322), consensus has shifted from “bullish on Bitcoin” to “pessimistic about the company's financial sustainability.” Morgan Stanley pointed out: “MSTR is no longer a crypto asset but a high-risk debt instrument.”

‌4. Macro linkage‌: The inflow of funds into Bitcoin spot ETFs has slowed, and Federal Reserve rate hike expectations have increased, further weakening its narrative as a “digital gold” alternative.

Finally, a short-term investment tip: currently in a panic oversold state, but without technical bottom divergence or volume shrinkage signals, strictly avoid bottom-fishing. If a rebound encounters resistance at the $142–143 range, consider light short positions targeting $125; if volume breaks above $143, confirm whether it is accompanied by company buyback or increased holdings announcements before considering a trend reversal.