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#BTCUSDT #1h (ByBit) Descending trendline breakoutBitcoin seems to have found bottom and is forming a local uptrend, looks good for bullish continuation after regaining 100EMA support. ⚡️⚡️ #BTC/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Long) Leverage: Isolated (13.0X) Amount: 4.9% Current Price: 57720.9 Entry Targets: 1) 57411.4 Take-Profit Targets: 1) 60987.5 Stop Targets: 1) 55618.9 Published By: @Zblaba CRYPTOCAP:BTC BYBIT:BTCUSDT #1h #Bitcoin #PoW bitcoin.org Risk/Reward= 1:2.0 Expected Profit= +81.0% Possible Loss= -40.6% Estimated Gaintime= 2-3 days
Long
by TradingOn
2
#BTCUSDT #4h (ByBit) Falling broadening wedge breakout & retestBitcoin regained 50MA support and is pulling back to it, seems ready to pump towards 200MA resistance after. ⚡️⚡️ #BTC/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Long) Leverage: Isolated (12.0X) Amount: 5.1% Current Price: 62917.6 Entry Targets: 1) 61920.3 Take-Profit Targets: 1) 65955.6 Stop Targets: 1) 59897.6 Published By: @Zblaba CRYPTOCAP:BTC BYBIT:BTCUSDT.P #Bitcoin #PoW bitcoin.org Risk/Reward= 1:2.0 Expected Profit= +78.2% Possible Loss= -39.2% Estimated Gaintime= 1 week
Long
by TradingOn
1
Pan American Silver (PAAS) AnalysisStrategic Portfolio Optimization: Pan American Silver NYSE:PAAS , a prominent global precious metal mining company, is bolstering its market position through strategic initiatives. Recently, PAAS agreed to sell its Lucita property to Defiance Silver and its La Arena gold property in Peru to Jinteng Mining for $245 million upfront, plus contingent payments. These moves align with PAAS's strategy to optimize its portfolio and strengthen its financial position. Leadership Insight: CEO Michael Steinmann highlighted the strategic benefits, stating, "With the sale of La Arena, we continue to optimize our portfolio while retaining future upside through royalties." Investment Outlook: Bullish Outlook: We are bullish on PAAS above the $16.50-$17.00 range. Upside Potential: With a target set at $28.00-$30.00, investors should consider PAAS's enhanced financial outlook and strategic portfolio optimization as key drivers for potential stock appreciation. 📊⚒️ Stay informed about Pan American Silver for promising investment opportunities! #PAAS #PreciousMetals 📈🔍
NYSE:PAASLong
by Richtv_official
#LTCUSDT #1h (OKX Futures) Descending trendline breakoutLitecoin printed a dragonfly doji on 50MA support, looks bullish for the days to come. ⚡️⚡️ #LTC/USDT ⚡️⚡️ Exchanges: OKX Futures Signal Type: Regular (Long) Leverage: Isolated (9.0X) Amount: 4.8% Current Price: 78.97 Entry Targets: 1) 78.32 Take-Profit Targets: 1) 81.98 Stop Targets: 1) 76.49 Published By: @Zblaba CRYPTOCAP:LTC OKX:LTCUSDT.P #Litecoin #PoW litecoin.org Risk/Reward= 1:2.0 Expected Profit= +42.1% Possible Loss= -21.0% Estimated Gaintime= 2-3 days
Long
by TradingOn
Spotting the REAL Bitcoin ATHLet's talk about an ambiguously overlooked elephant in the crypto room, THE MINERS . Bitcoin miners hold the most influence over the crypto market, despite the humble spotlight casted on them compared to other players like the exchanges and the ETF distributors. What people really miss is the fact that miners HAVE to make the most raw profit , there is no ATH, no bull-run, no real surge unless Bitcoin miners make more profit than us! So let's get right into how Bitcoin miners and the costs involved in the mining process could and has affected the price of Bitcoin during previous cycles. Based on my research, Bitcoin surprisingly NEVER has dipped below the average mining cost during a bull-run. During mid April 2021 , Bitcoin printed a new ~65000 ATH before starting a correction period that terrified investors. And if you were there back then, you'd remember how this correction was brutal to new traders. However, after two weeks of shaking the hands, Bitcoin started forming a descending channel week after week, until the price touched the golden FIBONACCI level (61.8%) at ~28600 , which happened to be only ~2000 Dollars away from the average mining cost at that time, which was ~26500. Briefly after, Bitcoin broke out of the descending channel and started surging towards its REAL ATH, ~69000 . Now, you might ask what does that have to do with the current cycle? Well, you're absolutely right! This cycle is completely different , because the average cost of mining Bitcoin is at RIDICULOUSLY crazy ~57000 level ! And such extremely high production cost begs for a serious consideration of the validity of ~73000 as a REAL cycle ATH. Do we really think that the current ATH is making miners enough profit? I personally don't think so, especially after the price retested the ~57000 level (which happens to be the current average production cost of Bitcoin) days ago and rebounded from it. It only makes sense to expect Bitcoin to print at least 70% profit for miners who produce Bitcoin at this point in time, especially after the halving event. And predicting a deeper correction where miners would print LOSSES instead of profit during the BULL MARKET wouldn't be a sensible preposition. It's extremely important to also mention that during the last cycle, Bitcoin NEVER dropped below its average production cost level until the bear market started . In fact, dropping below that level might have been one of the most significant causes of the bear market to begin with. Conclusion: The bull market is exactly when Bitcoin NEEDS to make miners profit, it's why mining is functional, especially for small mining businesses that can't afford to keep their gear running without cyclic profit. Bitcoin is currently rebounding from a price matching its current average mining cost after its post-halving correction. And based on the info in this brief research, this level should be where Bitcoin starts surging towards a new ATH. During previous cycles, miners printed at least 100% profit after the halving events. Will history repeat itself? Will the ~57000 price level be the final rebounding level before making a new ATH of at least 100000? Let's see! Note: This was an exploration of a potential scenario based on the current context and state of the market, not financial advice.
by OmarsMess
2
HIVE long,medium,short-term plans. Technical and fundamental Hello, friends! This is Shark, and today we'll be discussing the technical and fundamental analysis of HIVE stocks (a mining company). We'll explore long-term, medium-term, and short-term plans. Technical Analysis: Long-term Trading Plan (pink color) Timeframe: 1 month Global support level: $1.50 Global resistance level: $26.25 Channel step: 1650% Notice the global ascending trend line drawn through the minimum price values. Currently, the asset's price has exceeded it, indicating a potential drop. The long-term scenario will be activated once the asset's price breaks below the support of this ascending trend line. Medium-term Trading Plan (blue color) Timeframe: 1 week Resistance level: $7.18 Support level: $2.20 Channel step: 226% Pay attention to the ascending trend line drawn through the lows. It's drawn on the weekly timeframe, and currently, the price is at its support, presenting the best time to buy this stock. The potential for medium-term trading is 226%. Also noteworthy are the decreasing highs, through which a descending trend line is drawn, forming a graphical structure of a "flag" or "contracting triangle," indicating an accumulation phase. Aggressive purchases should be considered above the $2.77 level. Short-term Trading Plan (yellow color) Timeframe: 1 day On the chart, a descending trend line of yellow color is drawn. As long as the price stays below it, the trend is downward, and all levels marked on the daily timeframe are resistances. The potential for short-term trading to all levels is indicated. It's also worth noting the significant support level formed by the gap, presenting the best opportunity to buy the asset, as there's a market rule that aggressive asset growth should occur after covering all gaps. The short-term buying plan will be activated upon breaking the descending trend line. Fundamental Analysis: Mining Industry: HIVE Blockchain Technologies is a company specializing in cryptocurrency mining, such as Bitcoin and Ethereum. Therefore, the fundamental state of the cryptocurrency market as a whole will heavily influence HIVE stocks. Cryptocurrency Price Dynamics: Changes in cryptocurrency prices, especially Bitcoin and Ethereum, will significantly impact the profitability of mining companies, including HIVE. High cryptocurrency prices usually lead to increased miner profitability, which can result in HIVE stock price growth. Technological Innovations: HIVE's success will also depend on its technological innovations and ability to enhance mining efficiency. Investors will be monitoring the company's new developments and improvements in equipment and software. Cryptocurrency Regulation: Changes in cryptocurrency legislation and regulation can have a significant impact on HIVE's business. Positive decisions or support from authorities can promote the company's growth, while negative measures may adversely affect its prospects. Historical Events: The company's past successes and failures can also influence its future value. Investors will analyze HIVE's history, including its financial results, strategies, and response to market changes, to make forecasts regarding its future success. Considering these factors, investors should carefully assess the risks and opportunities associated with investing in HIVE stocks and make decisions based on a comprehensive analysis of the company's fundamental and technical aspects, as well as the cryptocurrency market as a whole. If you enjoyed the review and would like more similar ideas, please like! Share your opinion on this asset in the comments below. Don't forget to subscribe to the channel to not miss new videos and updates. Thanks for watching, see you soon!
NASDAQ:HIVELong
by SHARK1318
RIOT - long and medium-term plans. The technical and fundamentalHello, friends! It's Shark here, and today we'll be examining the technical and fundamental aspects of RIOT Mining Company stocks. We'll delve into both long-term and medium-term plans. Technical Analysis: Long-term Trading Plan (pink color), Timeframe: one month Global support level: $1.61 Global resistance level: $36.38 Global accumulation level: $46.20 The chart indicates that the price has been in global accumulation for 3000 days with a step of 2773%. Note the global descending trend line. Currently, the price is at its resistance. The long-term trading plan suggests breaking through the global descending trend line and the asset's growth towards global highs by approximately 28,200%. Medium-term Trading Plan (blue color), Timeframe: one week Channel support level: $4.12 Channel resistance level: $20.83 Channel width: 405% Mid-channel: $8.76 The price is in global accumulation, moving from support to resistance and back. Rising lows indicate an uptrend. Currently, a crucial point for the medium-term trading plan: the mid-channel level at $8.76 acts as support and has been confirmed multiple times. If the support holds and the price rebounds from the ascending trend line, there's potential for a +400% rise to the global resistance level at $46.20. Fundamental Analysis: Fundamental Analysis of RIOT Stock: RIOT Blockchain, Inc. is involved in bitcoin and other cryptocurrency mining. It actively invests in infrastructure and technologies to enhance mining efficiency. Let's examine the key factors that may influence the growth of RIOT stocks, as well as historical events that have impacted its value. Historical Events and Their Impact on RIOT Stocks: Bitcoin's Popularity Surge: During periods of significant bitcoin price growth, RIOT stocks have also shown considerable increases. For instance, in late 2020 to early 2021, when bitcoin reached new all-time highs, RIOT stocks grew by over 1000%. Regulatory Changes: In December 2020, news of potential cryptocurrency regulation tightening in the US led to a short-term decline in RIOT stocks. However, the company quickly recovered due to strengthened market positions and the implementation of new technologies. Technological Innovations: The introduction of more efficient mining machines and energy management technologies allowed RIOT to increase productivity and reduce costs, positively impacting the company's financial results and stock. Potential Events That May Influence RIOT Stock Growth: Bitcoin Price Increase: Since RIOT is involved in cryptocurrency mining, rises in bitcoin and other cryptocurrency prices directly affect its revenues and, consequently, stock value. Infrastructure Investments: Continued investments in new mining facilities and infrastructure development, including transitioning to cheaper and more environmentally friendly energy sources, can significantly increase the company's efficiency and revenue. Regulatory News: Favorable changes in cryptocurrency regulation can promote RIOT stock growth, while regulatory tightening may pose short-term challenges. Partnerships and Strategic Alliances: Forming strategic partnerships with major players in the blockchain and cryptocurrency industry, as well as potential collaborations with financial institutions, can significantly increase the company's market capitalization and attractiveness to investors. Conclusion: RIOT Blockchain, Inc. stocks have significant growth potential due to its position in the cryptocurrency market and active investments in technology. However, like any other stocks, they are subject to the influence of various factors, including market trends, regulatory changes, and technological innovations. Investors should carefully monitor these aspects and consider them when making decisions about investing in RIOT stocks. If you enjoyed the analysis and would like more similar reviews, please like! Share your opinion on this asset in the comments below. Don't forget to subscribe to the channel to not miss new videos and updates. Thanks for watching, see you soon!
NASDAQ:RIOTLong
by SHARK1318
CLSK - long, medium,short-term plans. Technical and fundamental Hello, friends! Shark here, and today we’ll be looking at the technical and fundamental analysis of the mining company stock CLSK. We will cover long-term, medium-term, and short-term plans. Technical Analysis Long-term Trading Plan (pink), timeframe 1 month: Global resistance level: $40 Global support level: $1.74 (established in 2023) Channel width: 2198% Accumulation period: 3300 days Note that the lows on the monthly timeframe are rising while the highs are falling, indicating an accumulation phase. Once the price breaks the global descending line, an active participation phase may begin, potentially leading to significant growth. Medium-term Trading Plan (blue), timeframe 1 week: Support level: $14.78 Resistance level: $23.45 Trading range: 58% Currently, there is no clear direction, and the price moves between support and resistance, indicating an accumulation phase. The price is above the ascending trend line, pointing to a pronounced local uptrend. Consider buying at the levels indicated on the weekly timeframe. Short-term Trading Plan (yellow), timeframe 1 day: Resistance level: $18.32 (from daily timeframe) Support level: $14.78 (from weekly timeframe) The chart shows a local ascending trend line (yellow). The price has broken through resistance and is now in the middle of the channel. Consider two scenarios: Trading Scenario: Buy at the support level of $14.78 with a subsequent rise to the resistance level at $23.45. The potential movement is 50%. Breakdown Scenario: If the support level of $14.78 breaks, the price may drop to $10.54 (from the daily timeframe), followed by growth to the global level of $40. In this case, the growth potential is about 400%. Fundamental Analysis Company Description: CleanSpark, Inc. (CLSK) is an American company specializing in the development and implementation of energy efficiency and energy management solutions, as well as cryptocurrency mining. The company offers various software and hardware products to optimize energy consumption and improve energy efficiency. Factors Influencing CLSK Stock Growth: Increase in Cryptocurrency Prices: As a mining company, CleanSpark is directly affected by cryptocurrency prices, especially Bitcoin. An increase in Bitcoin’s value can significantly enhance the profitability of mining operations, boosting CLSK’s stock price. Technological Innovations and Expansion of Mining Capacity: CleanSpark is actively investing in upgrading and expanding its mining farms. The introduction of more efficient mining rigs and increased overall capacity can contribute to higher revenues. Energy Projects and Partnerships: The company develops energy management solutions to reduce electricity costs and improve environmental sustainability. Partnerships and contracts in this field can significantly impact the company’s financial performance. Regulatory Changes: The introduction or modification of laws and regulations related to cryptocurrencies and the energy sector can positively or negatively affect CleanSpark’s operations. Positive regulatory changes can stimulate stock growth. Financial Results and Reports: The publication of quarterly and annual financial reports with results exceeding analysts’ expectations can drive stock price growth. Historical Events Affecting CLSK Stock: Investments in Cryptocurrency Mining (2020-2021): In late 2020 and early 2021, CleanSpark invested heavily in cryptocurrency mining, leading to a significant increase in revenues and attracting investor attention, driving stock growth. Acquisitions and Expansions (2021): The company acquired several mining farms and expanded its capacity, positively impacting its financial performance and boosting stock prices. Financial Reports (2020-2022): The release of positive financial reports and exceeding analyst forecasts also contributed to stock price growth. Conclusion: CleanSpark stock has growth potential due to its activity in cryptocurrency mining, technological innovations, energy projects, and positive financial results. However, investors should be aware of the risks associated with cryptocurrency market volatility and potential regulatory changes. If you enjoyed this review and want more ideas like this, give it a like! Share your thoughts on this asset in the comments below! Don’t forget to subscribe to the channel so you don’t miss new videos and updates. Thanks for watching, see you soon!
NASDAQ:CLSKLong
by SHARK1318
5
Jaguar Mining Gold = micro-cap scam: Be Cautious Zcash is Better Jaguar Mining Announces Ten To One Reverse Split Jaguar Mining this morning announced that the company will be going ahead with a previously proposed share consolidation on the basis of one common share for every ten shares currently held by shareholders. Further, the company intends to conduct a $0.08 dividend on a post-consolidated basis five days after the completion of the consolidation. The consolidation, as per the company, was approved by an annual general and special meeting of shareholders held on June 5, 2017 – a mere three years ago. The company was provided with conditional approval from the Toronto Stock Exchange on July 17, 2020. The effective date for the ten to one reverse split is said to be August 27, 2020. thedeepdive.ca
OTC:JAGGF
by noam_chom
Bitcoin Halving Shakes up Market Bitcoin miners see rewards cut, Dorsey jumps in: Bitcoin miners collected more than $100 million in revenue for the halving on April 20, the highest total ever recorded in a single day. But now miners face a drop in mining rewards that could reshape the industry. And one familiar name is jumping in. Speculators hopeful upcoming Fed meeting will leave rates unchanged: US inflation rates have eased slightly in April in conjunction with weakening demand in both manufacturing and service sectors. Investors hope the latest data will spur a more bullish tone on future rate cuts. Bitcoin halving brings fresh interest to spot ETFs: After a period of net outflows prior to BTC’s halving event, spot BTC ETFs in the US have started to rebound. Ripple calls for SEC to reduce fine: Ripple has strongly opposed the SEC's proposed SEED_TVCODER77_ETHBTCDATA:2B fine, while a contingent of crypto lobbyists moves to sue the regulator. Tether claims it will freeze addresses linked to OFAC-sanctioned entities: The move follows reports that Venezuela's state oil company, PDVSA, used the USDT stablecoin to bypass US sanctions and continue its oil exports. 🤷 Topic of the Week: What is Ethereum? ➡️ Read more here
GEMINI:BTCUSD
by Gemini
Barrick Gold (GOLD): Major Upward Moves AheadBarrick Gold, NYSE:GOLD , a prominent mining corporation, has recently achieved a noteworthy milestone by reclaiming a critical trendline on the weekly chart and stabilizing between the 78.6% and 88.2% Fibonacci retracement levels. Our initial investment was strategically placed at $14.77, located within the highest volume area observed since 2008 according to the volume profile. This positioning suggests a strong foundation for potential growth. Should the gold price continue to rise and we surpass this high-volume area, Barrick Gold could experience a parabolic surge. This potential is amplified by the industry’s relatively small scale and the minimal capital required to significantly influence market dynamics. Our analysis indicates a robust support at the Wave 2 and minor Wave (ii) levels, consistent with our entry point (refer to the Daily Chart). Having successfully reclaimed this trendline, we are now anticipating a substantial upward trajectory with an immediate target of $55.95, correlated with a solid dividend yield of 2.2%. Currently, our position is optimized to maximize returns from these dividends. As we navigate through Wave II, our projections show a potential breakthrough beyond the $56 threshold, positioning Barrick Gold as a highly desirable investment option. With an optimistic projection of reaching up to $280 from our entry price and a calculated downside risk of only 20%—associated with the tail end of this significant volume cluster (standard normal distribution)—our strategy is well-poised for market success. At the dawn of trading today, the dynamics around our Level (ii) entry were crystal clear. We retested and successfully held above the subordinate trendline at the 78.6% retracement level. Furthermore, we have not only reclaimed a more significant trendline from the weekly chart at an elevated level but also breached and are currently retesting another key trendline at subordinate Level (i). It is critical for maintaining our bullish outlook on Barrick Gold that we stay above this advanced trendline. Since our entry, the stock has already appreciated by 20%. However, we are poised for even greater achievements and remain vigilant for further market developments. Expect an updated report from us as soon as additional data becomes available.
NYSE:GOLDLong
by freeguy_by_wmc
2
Wheaton (WPM): Is 88 CAD the Next Stop?Due to the significant rise in gold prices, our primary scenario for Wheaton Precious Metals has been invalidated, and we've recharted the entire course for you. We now believe what we're witnessing could be a potential Wave 5 of Wave (3), meaning we're in the overarching Wave (3). This wave should reach at least 88 Canadian dollars, stretching potentially above 250, which of course will largely depend on how the gold price performs. We consider the Wave 4 to have concluded at the low of 39 Canadian dollars, and we're now in a Wave ((iii)), with Wave ((ii)) having concluded at just about 52 Canadian dollars. We anticipate a possible short rise to then develop a subordinate Wave (ii), which likely will see the high at 71.39 CAD acting as a strong resistance, and we might witness a relatively short downtrend for our Wave (ii), where we'll place new entries. We'll let you know as soon as we place a limit order.
TSX:WPMLong
by freeguy_by_wmc
Cameco (CCJ) vs peer group uranium miners (Jan 2023-April 2024)As a sector, uranium mining has been in a strong uptrend throughout 2023 with a peak in early 2024. Pullback currently underway, based on Uranium U308 (UX1!) spot price softness since January 2024. Geopolitical and operational factors to be considered: (a) Nuclear energy facilities in Europe and USA are reliant to a large degree on fuel sourced from Russia and Kazakhstan, which may be curtailed via legislation (sanctions on Russia and possibly Kazakhstan) or supply chain disruptions (reduced military presence in Niger, announced operational curtailments in Kazakhstan and Saskatchewan which together produce half of global supply). (b) Legacy nuclear facilities are being extended beyond scheduled retirement dates, which will add to demand-side pressure. (c) Nuclear energy is a significantly less elastic market than other types of fuel due to the continuous operational nature of facilities and imperfect substitution alternatives in the short term, which maintains a floor on uranium demand. For consideration: Buy uranium miners located in stable jurisdictions, friendly to US and European interests, and located close to natural markets for fuel consumers.
NYSE:CCJLong
by StrobeT
Buy Buy! Ultra-bull Niocorp DevelopmentsI have been following this stock for some time, and it is getting better and better. their long standing goals, producing commercial, industrial-grade niobium, scandium products are coming to fruitition. This includes securing the finances to embark on the endeaver (unofficial). In the mining scene we have to be wary off the juristiction/country the mine is located in. it could get seized, laws could get passed that could dampen revenue or export be banned. But this is the opposite . It is located in Nebraska, U.S. and has tremendous political support . Niocorp Investor Presentation Target is AT LEAST 25. This stock is very resiliant against war, and will actually benefit from it. more supply chain issues abroad , inflation, demand to name a few. I like the price right now, but could surely fall further. We are near the support zone around 5.3, next is 4.7 zone then 3.9 zone. bargain zone: 2.6 - 2 Strategy: DCA GL
NLong
by leamese
LITM a lithium penny stock gets momentum LONGLITM is a lithium mining company with operations is Western USA and Canada now getting a lift as lithium prices are rising. It popped 16% today and hit a screener on volume yesterday. This is a junior miner compared with LAC and SGML. As such it is more reactive to price. All indicators confirm the move including the extent of the trend, relative volume spiking and the RS lines. This is a low float low volume stock. Accumulation of a low float could precipitate more price action upward quite easily. As a volatile penny stock LITM is risky. Right now, I see a long trade in a small position ( < 0.001 of account balance) for the potential gain despite the obvious risk SL at 10% Targets at 10% 20% (red line pivots to the left-1.2o December to Feb) then 70% ( pivot low March 23) and finally 250% for the runners ( January and July 23 high pivots). Time will tell. I expect great profit in this swing trade with stratified partial profits and less time effort in the trend using alerts and notifications. A trailing loss will be employed at 10% once the trade is over 20% profit.
NASDAQ:LITMLong
by AwesomeAvani
Fortuna Silver Mines (FSM): Mining new OpportunitiesFortuna Silver Mines (FSM): NYSE:FSM Since the entire silver sector and especially the precious metal sector interest us, we decided to take a closer look at Fortuna Silver Mines. We believe that in the daily chart since the COVID-19 low at $1.47, we have developed the overarching Wave I and Wave II and are now in the overarching Wave III. This should significantly exceed the level of Wave I, well above $9.85. Now, finding a good entry point at Fortuna is important to us. We assume that in the 4-hour chart since Wave II at $2.05, we have developed the subordinate Wave (1) and Wave (2) and are thus in a Wave (3). This should, of course, go significantly above the level of Wave (1) at $4.20. More precisely, we expect a rise to at least $6.06. This is our minimum target for the Wave 3 up to $10.35. However, that is the maximum for us. It could still go further, but realistically, we wouldn't expect that, except in exceptional cases. Currently, we should be in a Wave ((i)) right now, as we likely saw a gap close at the top of Wave ((i)) at just under $3.50. We should now find a retracement between 50% and 78.6%, that is, between $3.06 and $2.81. Afterwards, we should ascend to at least $6.06. However, considering we are in the overarching Wave (3), we should also surpass $10. But of course, that's in a very long-term scenario. In a shorter-term scenario, we expect to reach at least $6.06 relatively quick. We set our stop loss below the level of Wave 2, as a double bottom would still be allowed, i.e., a 100% retracement. However, we aim not to be stopped out. Therefore, we have set our stop loss for Wave ((ii)) below the level of the overarching Wave 2.
NYSE:FSMLong
by freeguy_by_wmc
Wheaton (WPM): Further Downward MovementWheaton (WPM) : NYSE:WPM Due to growing interest in the gold market, we've decided to include a mining stock in our analysis, specifically Wheaton Precious Metals Corporation, a Canadian company that focuses primarily on gold mines. We start with the weekly chart to examine this company. It's important to note we're dealing with Canadian dollars, not to be confused. We've completed the first 5-wave cycle, although not the most aesthetically pleasing, at 76 Canadian dollars. Since then, we believe there should be further downward movement to complete Wave C and simultaneously the overarching Wave II. We expect to enter the range of 50 to 61.8% retracement, approximately at the level of Wave (A) as we can see more clearly on the daily chart. The subordinate wave structure also clearly shows that we're in a Flat structure. Based on this, we expect to see a 5-wave downward structure. Should the rising gold prices cause an increase instead, we would invalidate the bearish scenario once we surpass the levels of 64.42 Canadian dollars and then 71.4 Canadian dollars. If this does not happen, we continue to expect to see Wave 3, 4 & 5. Incidentally, we've also precisely completed Wave 2 at the 78.6% level. Therefore, we are very confident there should be further decline before we consider long-term entries in the mining stock of Wheaton.
TSX:WPMShort
by freeguy_by_wmc
2
Hut 8 Shuts Down Alberta Bitcoin Mine Amid Energy CrisisHut 8 Mining Corp ( NASDAQ:HUT ), a prominent player in the cryptocurrency mining industry, faces the harsh reality of the energy crisis as it announces the immediate closure of its Bitcoin mining facility in Drumheller, Alberta, Canada. The decision, driven by escalating energy costs and power disruptions, underscores the challenges confronting miners in today's volatile market environment. The Drumheller site, once a cornerstone of Hut 8's ( NASDAQ:HUT ) operations, now symbolizes the struggle against the mounting pressures of the energy crisis. CEO Asher Genoot's acknowledgment of elevated energy costs and voltage issues reflects the harsh economic realities that have forced the company's hand in shutting down operations. In a strategic pivot, Hut 8 plans to relocate its Bitcoin miners to its Medicine Hat facility, seeking refuge in a more stable operating environment. The closure of the Drumheller site echoes broader trends in Alberta's energy landscape, characterized by soaring electricity prices and regulatory scrutiny over cryptocurrency mining projects. The province's 1,000% increase in electricity prices since 2017, coupled with government concerns over power usage, has cast a shadow over the viability of mining operations. The looming Bitcoin halving event adds another layer of complexity, further dampening profitability prospects for miners already grappling with market uncertainties. Hut 8's ( NASDAQ:HUT ) financial woes mirror the challenges confronting the cryptocurrency market at large. A 57% decline in revenue for the first nine months of 2023 reflects the downward pressure exerted by falling Bitcoin prices. Despite these setbacks, Hut 8 ( NASDAQ:HUT ) remains a formidable presence in the Bitcoin network, contributing significantly to its processing power. In addition to operational challenges, Hut 8 ( NASDAQ:HUT ) has weathered scrutiny in the financial markets. Allegations of legal issues involving its partner, USBTC, in a $725 million merger deal rattled investor confidence, leading to a sharp decline in the company's stock. Hut 8 ( NASDAQ:HUT ) has vehemently refuted these claims, emphasizing its commitment to transparency and integrity amidst turbulent times. As Hut 8 ( NASDAQ:HUT ) navigates the tumultuous waters of the energy crisis and regulatory challenges, resilience and adaptability emerge as crucial survival traits. The closure of the Drumheller site marks a strategic retreat in the face of adversity, but the company remains poised to overcome obstacles and seize opportunities in the evolving cryptocurrency landscape. With a steadfast commitment to innovation and sustainability, Hut 8 charts a course towards a brighter, more resilient future in the world of digital mining.
NASDAQ:HUTLong
by DEXWireNews
ALPH/USDT | GATE.IO | Micro/Macro Strategy | Daily TFi've loved alph very much since its inception. this chart has played out so well for me in these last 6 months. finally another competitor PoW coin for the people. i have been and will continue to stack this coin, if you haven't already. Do a little research on Alephium mining. it's easy AF and simple passive income, especially if your graphics cards are just idle, put them to work guys!. here is my micro/macro trade for ALPH/USDC on the Daily TF. I do expect plenty of volatility as we stress the top of our previous ATH. Also, as we do poke at this previous top a bit I will be watching on the 4hour for any re-entries and liquidity dips. for now, i'm holding, watching the 4HR, daily & weekly timeframes for quick wicks of liquidity grabs. in 2 weeks or less we will have our directional answer. no stops set here, only limit orders. my direction is heading North!
Long
by LeftyOnFire