67R Trade Hut 8 Mining67R Trade on Hut.
Coming into a key support level here.
Good opportunity to get in.
High risk trade.
30% chance of success.
HUT trade ideas
Trading JournalThis was a tiny position on a chart pattern that looked good.
Once it broke out, sold all as it is tiny position, no need to keep it at 1.25% of the account
$HUT one of the most bullish minersBTC has been on a tear the past couple of weeks and the miners are set to follow.
The two most bullish miners are HUT and RIOT for this next move.
I think the most probable scenario from here is to break above the trendline into one of the first two resistances. Then we consolidate before a final move up into the $64 resistance.
Let's see how it plays out over the coming weeks.
HUT - Oct 24 Opening Sustainable Momentum30 Oct Entry:
HUT’s price surged and triggered our stop-limit order. I feel conflicted about this entry; although we were still above BTCUSD's key support and there was a momentum signal in HUT from the strong morning session, BTCUSD movement was weak.
29 Oct Entry (Limit Order Not Activated):
BTCUSD broke the $70K milestone for the first time since 19 Jul and is now approaching another key level not breached since 14 Mar. As BTC rises, crypto miners benefit, with their crypto holdings increasing in value. A strong BTC day typically influences crypto miners' stock movement. With this milestone breakthrough, I expect a larger, sustained run.
HUT shows an H2 opening momentum signal.
Trade idea
BTCUSD hasn’t broken $70,000 since 19 Jul. Surpassing this milestone should drive optimism and excitement into related assets. Trading crypto-related assets driven by BTC reaching new highs is ideal during these two weeks of high-impact macroeconomic, earnings, and election events.
Price could surge further if it breaks $73,931, surpassing the previous high from 14 Mar.
Crypto miners benefit as their crypto holdings increase in value when BTC rises. I’ve noticed that a strong BTC day typically reflects in their stock price movement. Given this key milestone breakthrough, I expect a larger, sustained run.
I’ve shortlisted the following crypto miners, as they’re already in an uptrend and show straightforward price movement.
- Riot Platforms (RIOT)
- Hut 8 corp (HUT)
- Cleanspark Inc (CLSK) - This has my least favourite price movement.
Opening Sustainable Momentum 🧑🏻🚀
Strategy
Signals identify market opening H2 candles through momentum and behaviour change that potentially could indicate a shift in the current price overall structure (Price gaps and ADR %).
Risk
We use the signal candle's highs and lows for entry and stop loss. If price hits the stop loss, it is clear that the shift we expected did not come to fruitation.
Current SL is at 0.25Fib
Focus
Focus is never on the signal candle alone, but it's role in the larger structure and the direction it is inclined towards with a minimum Risk & Reward of 2R.
Stock must be in a pull back or consolidation area waiting for a broad market momentum to ignite it forward.
Character
Trend, Positive Skew
HUT HUT HIKE!!!When you believe in magic, and I hope you do, you’ll always have a friend wearing big red shoes.
Question is do you believe? Put on your sun hat because its about to get bright.
The New and Improved Hut 8 Corp? 🤔I wanted to share the BTC companies that I've been holding so I'll start with Hut 8 and get Terawulf, Cleanspark, and Marathon posted next.
I still have mixed feelings about this company, but you should leave the fundamentals out of technical analysis and just trade the price. As we get into the bullrun of 2024/2025, underperformers should top out first. You can refer back to the previous bullrun to see what I mean.
Tbf, Hut took a hit when ETH went proof of shit on the industry, and left many miners holding the bag. Hive is another one that took a hit, but its also one of the most lean and efficient miners in the space and was able to recover more quickly. Hut basically had to decommission hundreds of thousands of GPUs, millions of dollars spent. Management also likes fat salaries, as it is a popular mining company. But they have had zero growth in years, unless you count the added hashrate that USBTC brought to the table with the merger. That puts them at 7 exahash, which is mid low tier these days.
What can change this company around? If they announce a massive fleet upgrade miner purchase. Their bid for four power plants looks like its a go, and if they can actually manage this right then there is enough power to get to about 15 exahash. That's a lot of ifs.
Update on Hut 8’s Stalking Horse Bid for four natural gas power plants including the North Bay Bitcoin mine
markets.businessinsider.com
Technicals : Fakeout under the trendline to a 786. I'll be looking for price to close above here. Highlighted box is 618 of major swing pivot.
I'll keep this updated when we get more information on the combined companies revenue.
✌️
$HUT Reaction as support - LongHUT8 Completed a bullish bat on the 4h at support, it is now showing potential for 3 rising valleys at a zone where its is very easy to manage risk. We are bullish on btc and all the variables are lining up here also.
HUT - Asc Tri break out with second breakout about to happen ?Bullish case - We have two Asc Tria breakouts going on here - another one for you!
HUT has a history of triangles performing technically so that's a nice piece of supporting evidence
The sector seems to have formed asc triangles
BTC making a pause / sell off would create possible chance to pick up at lower prices for another leg down or we have a break higher and off we go!
Not financial advice just for interest
HUT - Time To Take ProfitHUT
Might be cooked in this area.
Gap up could be an exhaustion gap.
Shooting star yet to close but looking bearish.
If it is a gap down next week then a bearish Evening Star candle pattern will print.
And its a 1.618 Golden Window.
I am taking profit here.
And now entering a small short position👍.
Client call:
Not advice
Release the Squeeze Last summer NASDAQ:HUT saw a similar squeeze.
TTM Squeeze Overlay shows Bollinger Bands and Keltner Channels. When the Bollinger Bands (purple) go inside of the Keltner Channel (yellow), the market is said to be in a squeeze.
The squeeze is about to fire long, don't miss the trade!
The dots across the zero line of the TTM Squeeze & Momentum indicator will turn red, signifying this period market compression. Once the Bollinger Bands move outside of the Keltner Channel, a squeeze has “fired”. In order to determine the direction of the move, look at the histogram of the TTM Squeeze & Momentum. If it is above zero, the squeeze has fired long,
Bitcoin bouncing back from the 64K bottom, let's hope it's the bottom for this summer rally!
NASDAQ:HUT is not only a crypto miner, but also an AI infrastructure play! We have seen some huge moves among other miners/AI like NASDAQ:IREN / NASDAQ:CORZ / NASDAQ:CLSK - Now it is time for NASDAQ:HUT to shine!
Hut 8 CorpHut 8 Corp witnessed a strong rebound in yesterday's session, violating the major resistance at 12.16, and the confirmation of this breakout by remaining above 12.16, will confirm the current uptrend, which will trigger further rises near 13.75 - 14.43 - 15.80 - 16.75.
he stop-loss lies below 10.90.
the indicators are heading toward the positive side, which confirms the mentioned positive scenario.
The information and publications are not intended to be or constitute any financial, investment, commercial, or other types of advice or recommendations provided.
HUT8: Potentially BearishContinuation with my Crypto Miner stock analysis, here are some thoughts on HUT8. I was hoping this stock would react more how I would originally expect, but it did the opposite.
We are in a bit of a weird spot here with this one.
If you take a look at the fixed range volume profile, a questionable sign is that we entirely lost the Value Area Low, as well as Range Point of Control marked in blue. Technically if you are hoping for more upside we must first reclaim the lower orange value area.
However, to the contrary we are quite literally at the lowest levels of this stock which should still be a DCA if you believe in this company. If we cannat reclaim the lower orange value area low, it might be likely that HUT will bleed to a lower price demand zone. Its also important to consider a few other things.
1. Hut is currently not a profitable miner, although perhaps they may be one day we are still in a volatile time period economically.
2. The halving event approaching in spring may potentially continue a bleed before the real rally.
3. Bitcoin has likely topped, or will top soon. So it seems unlikely for ANY mining stock to make new highs, unless they are profitable.
Due to the nature of my trading style, I would likely be patient on miners moving into the spring. At that point well likely see a good opportunity to accumulate.
I would personally approach this one with caution at the moment, if this stock does not immediately bounce from this zone, it can be a strong sign of weakness. However, if we do get a bounce here, I dont quite expect it to be long lasting.
HUT ShortNASDAQ:HUT is ready for a pull back to the VWAP lot 7.78. Before getting there, it will need to break through 8.76, then 8.60, and 8.40. This trade will be off if it goes through the support of 9.84. In that case, it is making new highs. The RSI is heading into the overbought zone.
Hut & Corp - A Big Move coming Can we capture Logic behind it?Hello there,
I hope you all are doing well, If we can capture this move we can generally go on another vacation at the end of the summer. So here is the logic behind this more than 35% rise expected
Technical is strong as we can see from the chart pattern with a good volume breakout another thing is that the company has a business in the Bitcoin Mining business if we compare the day when bitcoin was high in 2021 this company also was in profit and performing good and after the crypto market fall, this also goes into loss. Now Bitcoin is at a high and still, the company is at a loss but now things are changing finials are improving every quarter.
We can expect a big move of about more than 35% lets see in the future.
Thank you for reading my post
$HUT sweep of $6 before higher? $12-18 final target?I know a lot of people were following the NASDAQ:HUT idea, so I thought I'd give an update here.
Most people are convinced the miners are heading higher here. I do agree, but I don't think the trade will be as easy as longing this move.
With a rejection of this level, it sets up a move down to the lower support level around $5.59-$6.33. Once that level gets tagged on the downside, I think that sets up a new long trend.
I'm short a lot of the miners here (HUT, RIOT, MARA) with the idea that the rest of the week, price should fade this move. I'm looking for a sweep of the lows, then if we get it, I will go long thinking that we'll see a strong move through the rest of May.
After the sweep, I think price can go to $12 and as high as $18.
Let's see how it plays out.
HUT surge After HalvingIt's clear that BTC halving has a strong positive effect on BTC mining stocks
Dead businessBitcoin mining: Business born dead
They have one disadvantage compared to Bitcoin. Getting pumped with fake dollars. Send them all to zero.
Hut 8 Mining will follow this trend. Double Arc confirmed $HUTEveryone hates Hut 8. Its been carried by institutions for the past few months and even I am tired of it. But I think if we wait, the reward is right around the corner. Increased position size 150%. You will get upper 20s this year, if not more.
$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.
HUT Hut 8 Corp Options Ahead of EarningsAnalyzing the options chain and the chart patterns of HUT Hut 8 Corp prior to the earnings report this week,
I would consider purchasing the 8usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $3.30.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Hut 8 Mining Surges 12%, Prior 32% Revenue BoostHut 8 Corp ( NASDAQ:HUT ), a prominent player in the cryptocurrency mining sector, has unveiled impressive financial results amidst the ongoing Bitcoin rally. The company's recent report reveals a substantial 32% surge in revenue over the last six months, reaching a commendable $60.6 million by the end of December 2023.
This remarkable uptick in revenue is further underscored by Hut 8's ( NASDAQ:HUT ) transition from a previous net loss to a significant net income of $6.2 million, marking a pivotal turnaround in its financial performance.
A key driver behind Hut 8's ( NASDAQ:HUT ) success lies in its efficient Bitcoin mining operations, with the company managing to extract 1,244 Bitcoins during the reporting period at a mining cost of $18,815 per Bitcoin. Notably, Hut 8's ( NASDAQ:HUT ) Kprudent energy management is evident in its energy cost per MWh, standing at a competitive $44.52.
However, what truly anchors Hut 8's financial strength is its substantial Bitcoin holdings, boasting 9,195 Bitcoins valued at approximately $388.1 million as of December 31, 2023. This robust asset base not only bolsters the company's balance sheet but also positions it favorably to capitalize on the ongoing Bitcoin bull run.
Indeed, Bitcoin's meteoric rise in value, surging by 60% since the start of the year and breaching the $70,000 mark in early March, has propelled Hut 8's fortunes. The increasing adoption of Bitcoin, fueled by the introduction of spot Bitcoin ETFs in the U.S., has attracted both institutional and retail investors, driving up demand and market capitalization.
With Bitcoin's market capitalization surpassing $1.4 trillion, solidifying its position as the eighth-largest global asset, Hut 8 Mining ( NASDAQ:HUT ) is riding the crest of this digital currency wave.
Hut callThe chart looks ready.
Bought April 5th $7 call for $2.55, very low premium.
I think CRYPTOCAP:BTC will be definitely higher next week.
