HUT 8 MiningThese are my thoughts on HUT. They are meant to give you an idea, not trading advice.
This seems to be forming an inverses head & shoulders pattern. If this breaks to the upside we're in for some nice gains. Since HUT is a blockchain related stock, it's sensitive to the price of BTC. That's what makes me more bullish.
Please be careful, as the market never gives you certainties, only probabilities!
ALWAYS REMEMBER THIS WHEN YOU TRADE
HUT
HUT will fly when BITCOIN doesHUT will fly when BITCOIN does
not advice but there is a gap at .50 cents to .55 cents
I will put an order in there
HIve, GLXY, Hut 8, Bitcoin. ETHHere's a 1 year chart comparing Bitcoin in the yellow, Hut 8 in the Red, Hive in the Green, ETH is the Blue Line & GLXY the Purple line, the 200 Day MA is the Black line.
It's possible this parabolic rise in Hive is correlation coming back between Ethereum & Hive, it would possibly explain the uptick even when ETH is red.
Double Top?It appears as though HUT is being met with some tough resistance, which is exactly where HUT capitulated in Nov 2018.
More pain may be ahead, Hut may see a Huge dump off. No correlation to BTC at all today, that's shady!