Metaplanet’s Bitcoin Bust: A Financial Farce!

Oh, darling, the Metaplanet stock price is in a tailspin, eviscerating those fleeting gains from its flirtation with Bitcoin accumulation. 🎭💰

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The daily timeframe chart reveals that the Metaplanet share price has been in a freefall for the past few months. It has plummeted from a high of ¥1,930 to ¥709 today. 📉💣

This nosedive may persist as it breached the critical support level at ¥723, its highest swing in February this year. It is on the verge of forming a death cross pattern as the 50-day and 200-day Weighted Moving Averages approach their crossover. ⚰️✝️

The Average Directional Index has climbed to 32, indicating that the trend is strengthening. Therefore, the stock will likely continue to plunge as sellers target the key support at ¥500. This sell-off will intensify if Bitcoin’s price remains stagnant. 📉🔮

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2025-09-07 19:35