HUT 8 MINING ………

WHAT IS HUT 8 MINING:
Hut 8 is a bitcoin mining company with industrial scale operations in Alberta, Canada. Hut 8 provides investors with direct exposure to bitcoin through both its bitcoin mining operation and by holding its bitcoin balance.

LONG TERM PROJECTION USING FIBONACCI EXTENSIONS ( NOT FINANCIAL ADVISE )
WAVE 3: 26.08, WAVE 5: 41.54

Today update on price action of crypto and stocks. I will try to cover some news and how can affect markets.
HUT 8 MINING IS A CRYPTO MINING COMPANY WITH STRONG FUNDAMENTALS AND A VERY NICE CHART!!!

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Welcome to the Crypton so hot and Mining as you can see it’s uh struggling a little bit CEOs after CEOs are stepping down they don’t last don’t know why uh financial report is not that crazy so uh I mean crazy bad uh they have a lot of uh BTC in Bank uh

They are Diversified they don’t only do mining they do uh storage and other things so it’s honestly I I think it’s the merge that really hurt what hurting uh Bitcoin I didn’t do any deep research because I’m I’m not a fundamentalist uh investor but what I can tell you now

This is a this was a great level because we do we did have two uh levels here that very strong right he acted as a support and after the bounce yes here we did lose it and um this was one reason why this level here when we when we went

To revisit this level more likely price would react and uh hold those levels now I can put this uh uptrend line finally hopefully this is the last time I can draw it and now do I think where Out of the Woods honestly uh I don’t want to be

Negative I wouldn’t be surprised if we go there and then maybe we we bounce back again and after that we go uh very possible also you know don’t listen to me uh it could be that just the it did that and now it’s going to scy Rocket uh it’s also possible so this

Was a nice entry point and you know if it goes below then you get out right so up to now if people they did get some you know I will suggest that you just adjust your sell stop limit or taking profit limits levels and you should be good right now that’s the

Daily there’s something else I want to say here I’m not sure so we had this is M50 so we did add a dead cross now it’s not looking good yeah honestly it’s uh it’s honestly very disappointing and when I compare with Mara for example you can see that the

Trend is so up I’m so jealous I should have in I should have invested in in Mara would have been much more satisfying you can see that the the trend is up and we need to say in the last cycle you know Mara did perform pretty

Uh much well or pretty uh he performed better than Min right and uh for this coming cycle I was uh looking forward for uh a and Mining to to start to outperform the rest because there kind of now the the number three right so they expanded they

They got so many many uh miners from China when they were shutting down in 2020 2021 or somewhere in those levels also the MGI they they got a lot of uh miners when China uh forbidden mining so it can be scary but if you look at long term it’s something that you can

Really scy rocket you just need to have the the good uh setting and once again I do believe that the merge didn’t help so now if it goes here uh for sure we need to be uh alert for this trend now and it’s it can act as a resistance but if

We ever manage to break out from that and maybe uh yeah break and then use it as support again then it would be another uh accumulation level I would say now it’s cheap uh but uh once again this level here was the best now there isn’t much

Else to say uh if I go on the weekly it’s always nice to go back and check long term right when uh you feel that you should get out well you know stocki it’s uh yeah it’s it’s getting out from being oversold RSI are low so for a long term

Uh investor you know it’s not a bad entry now okay but for sure here was was the best uh because stock RSI and RSI were really low here also wasn’t bad but if you look at long term I don’t see how um outut mining can continue to go

Lower if Bitcoin you know now the H is going to come and then so many other events are coming for Bitcoin that it’s going to push price higher and then uh it’s the question now is how much high is going to push hot and Mining in the next cycle

So that’s that’s the uh I would say this the expectation now right so for a moment also the expectations uh are still the same so I’m still looking for $130 now for this third wave so we can see that we have a one two three four and five and we have this

A b c for the wave two and now this possibly could be just uh one two of this third wave right so let me let me scrunch some number here the only thing I don’t really like this could be an uh and start to build up as into a

Diagonal because you can clearly see here that uh we have an a a b and a c so this would be r one that’s AR one but anyway and now we have an A B C for the wave two okay so let me put some label here maybe so this could be the

One here and this could be the two and so we do see a b c for one a b c for the wave two so now what I am expecting now if we you know if money really start to do a diagonal we’re going to see something like a

B and a c and then only then we will be able to draw a diagonal uh or a trend right and then after that we can take this trend copy and putting it into uh the level of uh the wave to anyway this is it’s a bit of a

Stretch this is what I’m looking for maybe to be more positive so we shall see so if that is the case this is actually indeed the lower uh of this uh correction and now we should see higher levels all right so this is pretty much all for hot and Mining hopefully you

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