“Bitcoin has fallen below a key support level, breaking a bullish pattern.”, — write: www.coindesk.com
Bitcoin BTC$95,212.02 has gone the “Strategy (MSTR)-way”, falling below a key support to shatter the memory traders had of this level as a reliable bounce zone.
The leading cryptocurrency by market value fell nearly 10% in the seven days to Nov. 16, printing a big red candle that closed well below the 50-week simple moving average (SMA), according to data source TradingView.
The breakdown represents an invalidation of a major demand zone and a transition away from an entrenched bullish pattern toward increased caution and potential extended sell-off. Traders may reconsider their assumptions and shift tactics to sell the bounce rather than buy the dip.
That’s because the average had acted as a dynamic floor several times since early 2023, repeatedly holding strong as buyers stepped in around the level, powering a renewed upswing to new lifetime highs.
Looking back at the Strategy precedent, we observed a similar erosion of confidence and an extended sell-off following the breach of the long-held 50-week SMA. CoinDesk previously noted the bearish development in Strategy’s 50-week SMA breach, cautioning that Bitcoin could face a similar move.
BTC vs MSTR (TradingView)
The former support at the 50-week simple moving average has now turned into resistance, meaning any bounce will likely face selling pressure near $102,868. Sustained weekly closes above this level would be needed to signal a renewed bullish trend.
MSTR, the largest publicly-listed BTC holding firm, fell below its 50-week SMA in September and has since extended the sell-off to $200, the lowest since October 2024.
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- GoPlus Intelligence’s Token Security API averaged 717 million monthly calls year-to-date in 2025, with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
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Dorman says fears that Strategy will be forced to sell bitcoin are misplaced, citing the firm’s balance sheet, governance and cash flow.
- Jeff Dorman said Strategy’s structure makes forced bitcoin sales unlikely, citing Saylor’s board control and debt terms.
- Peter Schiff predicted Strategy will “eventually go bankrupt” and challenged Saylor to debate him publicly.
- Strategy shares are down 33.42% year to date, compared with a 0.4% gain for bitcoin, and trade near a diluted mNAV multiple of 1.06x, according to StrategyTracker.
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