$HUT primed for a rip? BTC up, do miners make a run?With BTC/crypto finding support going into the weekend, crypto miners are set to make a run for the week of 2/7/22
I traded $HUT in the past on it's run to it's high of $16.57.
Many bag holders on the route back to that high, so I would expect selling pressure on any movement to the upside.
Not expecting a run to $16 in the coming week, but a run to $9.00 definitely looks possible
Drew some crystal gazer tarot lines (lol) from recent high bullish volume points that create a channel that looks primed for a break out
1st PT: 7.09
2nd PT: 8.10
3rd PT: 9.00
$5.8 range is support/technical exit level
Watching for confirmation of break of 50EMA for further movement to the upside
BTC/crypto sentiment will weigh heavily on the momentum of movement - bullish and bearish
Many of these miners are great for trading to grow small accounts, and often run parallel with BTC/crypto sentiment
As always, stay sharp, and manage your risk! Good luck!
Senor C
*Not financial advice*
