Updated: 2026-05-08
- Strategy’s MSTR is forming an ascending triangle pattern, indicating potential upside to $350.
- Canaccord’s analyst raised his MSTR price target from $185 to $224, citing Bitcoin’s recovery and Strategy’s funding structure.
On the final trading day of the week, Strategy (MSTR) shares fluctuated within an ascending triangle, a technical pattern that occurs when price makes upper lows below a flat resistance zone.
The high lows indicate that buyers are becoming increasingly confident. Each time the MSTR pulls back, the decline ends more quickly than before. This suggests that buyers are stepping in without waiting for a deeper decline.
Ascending triangles typically end when the price breaks the upper trendline and rises to the maximum height of the pattern. Applying this technical rule to the MSTR chart, the price could rise to approximately $350 in 2026. The upside target, approximately 80% above the current price level, coincides with the 0,236 Fibonacci retracement line.
On the other hand, a pullback from the upper line of the ascending triangle could lead to a multi-week downtrend in the MSTR to the lower trendline near $150. A break below this level could completely negate the bullish outlook.
This week, Canadian investment banking giant Canaccord also raised its price target on MSTR from $185 to $224, reiterating a “buy” rating, citing Bitcoin’s recovery and Strategy’s funding structure.
Previously edited Happy Coin News Reported, that Michael Saylor first spoke about selling bitcoins from the company’s reserves. Prominent Bitcoin proponent Samsou Mow considers such tactics not just true, but vital for treasury corporations.
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