$HUT - Another view, target $16-17?

Updating my past idea with some lower targets. It looks like we're in a large downtrend channel.

We've just tested the bottom of the downtrend channel and now have turned up. I think the next big move is to test the top of the channel around the $16-17 target.

I don't think we'll break the channel because 3rd tests rarely break. 4th+ tests break the channel.

Therefore, I think if we get up to the top of the channel, that's a great place to sell.

I think this move will happen somewhat quickly because of how fast we fell. That and BTC and alts both look bullish and I'm anticipating a correction towards the end of Feb into March.

First targets would be the $12-13 range. Then I could see a correction before the last move up to $16-17.

Let's see if it plays out or if my previous interpretation is correct.

Comment:

I sold all of my calls today +400%, will look to reenter next week around the $8-9 level for a move to the final targets.

Comment:

Going to add calls tomorrow morning. Looking for $8.50 region to add back

Comment:

Forgot to update. Ended up entering before close at $8.74. Bought $8calls and $11 calls for 3/15

Comment:

Should've been a bit more patient. This was the region I was looking for yesterday but didn't get. Think this is a good spot to enter.

Risk down to $8.37, below that = trouble.

Comment:

Added 3/15 $9 Calls here

Comment:

Welp, weakest mining stock by far. i still think it goes up, but $8.10 is next support... let's see. Probably not higher until next week

Comment:

okay, getting a reversal, a close over $8.37 would be great.

Comment:

Unfortunately, looks like $7.44 and then $7.19 are next support, let's see if we get a reaction at one of those levels. Still think we're going higher, just didn't think we'd go this low first.

Comment:

I don't think HUT turns up until Tuesday

Comment:

$8.37ish level is where you wanna buy

I sold out of my calls yesterday for minimal profit bc I saw some weakness. Going to readd them before the close as I think the CPI print tomorrow will send markets for one last leg up.

Comment:

If we drop below that level $8.08 should be the ultimate low

Comment:

Started scaling back in, but still think we might get lower tomorrow, so only took a half position to start

Comment:

Bought this morning again in the $8.30ish range.

Comment:

Looking for a top to be put in next week. Maybe this pivot sends price higher.

I'm out of HUT completely after 3/15 probably for the remainder of the year.

Comment:

Today was a weird move. At this point, I'm expecting one large move higher to be exit liquidity. Like a 50-100% candle, bc nothing else makes sense.

Still expect upside levels to be hit before downside. BTC @ ATH, COIN+MSTR up, other mining stocks down. Course has to correct soon IMO.

Comment:

Got a nice bounce today, chart starting to shape up. Let's see what happens tomorrow.

Comment:

Relooking at a bunch of charts, I think we get a move down into the fed meeting on Tuesday/Wednesday and then rally until the end of the month.

So there's a possibility that we end up sweeping the lows before the larger bounce to the target.

Just wanted to throw that out there.

Comment:

Looking like this is plqying out. I'm out of all positions.

We'll see how the chart shapes up next week. Probably won't take anymore longs.

Comment:

I think this is a good region to long, let's see if we get a final leg higher.