$HUT - Another view, target $16-17?
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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.
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.
Nota
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.Nota
Going to add calls tomorrow morning. Looking for $8.50 region to add backNota
Forgot to update. Ended up entering before close at $8.74. Bought 8calls and $11 calls for 3/15Nota
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.
Nota
Added 3/15 $9 Calls hereNota
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 weekNota
okay, getting a reversal, a close over $8.37 would be great.Nota
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.Nota
I don't think HUT turns up until TuesdayNota
8.37ish level is where you wanna buyI 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.
Nota
If we drop below that level $8.08 should be the ultimate lowNota
Started scaling back in, but still think we might get lower tomorrow, so only took a half position to startNota
Bought this morning again in the 8.30ish range.Nota
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.
Nota
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.
Nota
Got a nice bounce today, chart starting to shape up. Let's see what happens tomorrow.Nota
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.
Nota
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.
Nota
I think this is a good region to long, let's see if we get a final leg higher.
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