A couple of factors point to upside pressure..
These setups can always fail though.
What I'm looking at is this BTC miner has lagged behind others but has upside pressure factors currently.
US Bitcoin Corporation shareholders approved merger. Final by 11/30 hopefully.
BTC on a run to 40k with potential ETF approval 1/10
Any news of fixing current mining...
HUT 8 - NASDAQ:HUT
EARNINGS RELEASE: This Thursday 17th August 2023 👀
⚠️The last 3 quarterly earning reports have had consistent 10% or more reduction to revenues .
o Hut 8 is one of North America's largest innovation-focused digital asset mining pioneers and high performance computing infrastructure provider.
o Hut 8 has one of the highest capacity...
Closed HUT shorts, epic trade. Longing HUT here in size (for me). Massive decline, bullish doji daily candle. RSI bottomed. 200 da MA prob wont get hit (if it does I add). Diagonal support. Expecting a btc pump here. Not Advise, good luck.
Technically this is a short, went in small size last few days adding here. BTC looks like its about to puke. Stops at acceptable losses for most of the shorts, few will ride a bit. Not advise.
Hut 8 stands out as a pioneering force in North America's digital asset mining landscape, with a strong emphasis on innovation and a notable role as a high-performance computing infrastructure provider.
As one of the industry's pioneering miners, Hut 8 has left a significant mark.
Notably, on June 26, Hut 8 made a significant move by entering into a credit...
if we can hold this it can become a new bottom/support if we fall below the range we may have significant downside.... with the way the market has been moving i am looking for support to hold
Another 200-500 moving channel daily. For this one, the monthly's have been consolidating inside for the previous four months. The move out of this range should be at least the size of the largest of the four inside bars; in this case about 1.00. Overhead is also the annual pivot. Stop out on a monthly close below the low of the last close of the four bars...
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.
Strong up trend forming on $HUT.
Resistence on $3 level. If it clear that, $4,$5 possible targets ahead.
My stop loss would be $2. (Max stop loss).
If breakout is weak, I'll close the position.
Based on Elliott Waves and Fib levels. Also there is a bull flag and pennant .
Invalidation limit: 4.11.
I am not a financial advisor and this is not financial advice. It is a potential scenario or opinion. Invest at your own risk and do your own research.
Based on Elliott Waves and Fib levels. Also there is a bull flag and pennant.
Invalidation limit: 4.11.
I am not a financial advisor and this is not financial advice. It is a potential scenario or opinion. Invest at your own risk and do your own research.
will these calls play out, stay tuned to find out. if btc falls over than this is dead in the water but if btc pushes eoy before halving next year these could print big
