The logic for adding positions and chasing to $MSTR is very simple.
On August 21, MSTR’s daily line ($BTC ) had already stabilized above the EMA200. The rise from the bottom of 58,000 to 78,000 at that time was a 35% gain, while back then the EMA200 for $MSTR still couldn’t even be touched from below. The move from 82 to 112 was a 36% gain. Normally, MSTR’s volatility should be at least 1.5 to 2 times that of BTC, yet at that time the volatility of both sides was almost identical.

During a pullback, MSTR’s volatility would naturally be amplified as well, but most likely it needed to first catch up on the volatility gap. And at that time, 112 was the price where the volatilities of the two sides were nearly in sync—so the safety risk of chasing into MSTR here was very low. Today, the volatilities of both sides have finally started to return to a normal ratio.

Since MSTR is a US stock, in the subsequent uptrend of the larger cycle it may also move more smoothly than BTC, and be easier to form the standard pattern of “higher and higher lows.” After confirming the bottom and the low point, it is more suitable for riding the trend and rolling over with lower leverage.

—The above is for reference.