HUT looks poised for a strong breakout with a wave 3 long term target of $58 and a short term resistances of $21 and $33HUT is moving strong almost up 100% from the recent swing low, overcoming its weekly 200EMA with ease. A test of the 200EMA as support is likely before continuation.
Price is consolidating under major resistance High Volume Node (HVN) and the weekly pivot point. Consolidation under resistance often leads to a breakout.
A series of 1-2s appears to be taking place on the Elliot Wave count finding support at the 'BTC-Miners golden pocket' of 78.6 Fibonacci retracement.
Analysis is invalidated below $10.10
Safe trading
MSc Financial Economist, Studying PhD in Investing and Social Mood, Technical Analyst 6+ years, Investor 13+ years
Disclaimer
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MSc Financial Economist, Studying PhD in Investing and Social Mood, Technical Analyst 6+ years, Investor 13+ years
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.