MSTR Faces Bearish Momentum: Head and Shoulders Setup Suggests Potential for Further Decline

MicroStrategy’s (NASDAQ: MSTR) hourly chart exhibits a classic head and shoulders pattern, signaling potential bearish movement. After breaching the neckline at $360, traders are now eyeing key Fibonacci levels that hint at further downside risk. 7th-Declining resistance at $417, followed by $394 and $378, have been failed attempts to break through. This suggests a lack of buyer confidence following the recent price decline.