Strategy just hit a new high for the year. Should you buy the comeback in bitcoin stocks?

Bitcoin and other large cryptocurrencies are showing signs of life, with momentum having improved enough to suggest their counter-trend upmoves have staying power. Crypto-related equities, like bitcoin miners and treasury companies, are correlated to bitcoin and have similarly strengthened from a technical perspective. Strategy , the largest bitcoin treasury company in the world, has seen a significant rebound over the past month associated with promising upticks in long-term indicators like the monthly MACD. The monthly MACD histogram shows a loss of downside momentum that could be an early indication that the stock's bearish cycle is maturing. We will be more confident in a long-term low once the monthly stochastics turn back above 20%, similar to early 2023. For investors with a long-term time horizon who can weather short-term volatility, the indicators suggest it may be time to start building a position in MSTR. For traders who are shorter-term in their orientation, MSTR looks attractive as well. The intermediate-term trend has flipped positive since support was discovered near previous lows. The rising weekly MACD follows timely counter-trend signals from the DeMARK Indicators® that are still active. This increases the likelihood of additional upside follow-through in the coming weeks toward next major resistance in the $222-$232 zone, defined partly by the 200-day moving average (MA). …