$HUT send it to $28-$30Updating timing from my last analysis on $HUT.
Still think we get a monster move higher from here that happens over the next month. It did go lower than I expected, but I've been using the move down to accumulate even more calls.
As you can see from the chart, we've formed a large falling wedge, should it break to the upside we should see a big move higher.
My calls are stacked between 1/19, 1/26, 2/02 and 2/09 w/ most of the contracts expiring 1/26 and most are between $13-15 strikes.
My guess is that the full move should play out before the beginning of February.
Let's see.
Hutmining
Hut 8's Trend AnalysisHut 8 has broken the falling trend channel in the medium long term and reacted strongly up. For the time being, it is difficult to say anything about the future trend direction. There is no resistance in the price chart and further rise is indicated. Investors have steadily paid more to buy the NASDAQ:HUT , which indicates increasing optimism and that the price will continue to rise.
Price Momentum
NASDAQ:HUT is trading near the top of its 52-week range and above its 200-day simple moving average, indicating a Bullish Bias or Trend Continuation.
HUT 8 - Time to Let it Reload 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 rates for mining in the industry and one of the highest inventories of self-mined Bitcoin of any digital asset miner or publicly-traded company globally.
o With 9,136 BTC, Hut 8 continues to have one of the largest self-mined Bitcoin reserves of any publicly traded company
o On June 26, Hut 8 announced that it entered a US$50 million credit facility with Coinbase Credit, Inc.
THE CHART
The chart speaks for itself. My ideal entry would be off the POC or 200SMA with three confirmations:
1. MACD CROSS
2. OBV VOLUME BREAKOUT
3. RSI OVER SOLD
Safe Trading folks
PUKA