There is a Bearish Butterfly on HUT 8 Mining with Bearish Divergence on the CAD pairing and it suggests that we may pull back to try to test old resistance as support before continuing higher later.
I'm adding here, I think when Bitcoin turns around which I think is very soon the Bitcoin Miners will outperform everything. Such a great looking bullish falling wedge. Here down to .83-.84 should be amazing buys long-term I think. See chart below for a close-up.
looks like a massive triangle correction that has been nothing more than a series of 3 waves up and 3 wave down on the weekly. I wouldn't doubt if we make 3 wave up to test that top TL of the triangle around $8 before dropping into 3 more waves down to bounce off the bottom once more. Then maybe larger HTF breakout into 2023.
Either this stock will die due to over-bloating or will tear the universe like some space-criminal gang. Two random gaps down in the summer downturn below the BBs on the daily. Then they're was one final bottom out and a rebound. HUT basically follows BTC. Do I see a BTC rally soon? It's got indicators for it which I outline in a different post but it's a little...
Really liking the Bitcoin miners here, they have been taking a long time but I also see Bitcoin turning the corner here at 43k, there going to really payoff when they get going.
$HUT starting to push up when it hold our support above the 8$, no if we continue holding, the next price target will be first the 9.28$ then the 10.30$, let's hunt .
$HUT is on a correction atm, and bounced one time exactly on the .618 retrace from the last big low to high. If we see a second confirmation low, and then break out of the supply line, we might have a very decent buying opurtunity on this crypto mining stock! Stay tuned
After Tuesday's Gap Up, we are in price discovery mode as we reach new highs.
The red areas are worst case scenarios.
The yellow area is a zone (area) of support that COULDbe avoided if this stock continues the upward trend.
The green areas are most likely to happen due to the trend and earning coming up on Thurs, Nov 11.21.
H O D L T H E H U T !
Please...
Not only with hut 8 doing great on the mining business, the rising crypto prices of bitcoin increases leverage to the point that you will get more profit investing in hut 8 than buying bitcoin. So even the boomers can join in.
HUT volume beginning to pick up after its Nasdaq debut. But will it be enough. Even before jumping to the higher exchange, the crypto stock saw clear levels of support/resistance between the 618 and 786 fib levels. With Musk starting to chip about Dogecoin again, it will be interesting to see if we get a crypto reboot this summer.
" Cryptocurrency mining stocks...
Buyers are willing to buy higher prices...
== BULLISH
Can prob trade the adam and eve but be wary of triangular resistance but i think it shows u a potential buy in position.
Bullish bias on BTC
Fundamentally a good company.
