Hut 8 Mining (HUT)
By Thu, Oct 28, 2021
Crypto is hotter than ever with Bitcoin breaking through new all-time highs yet again.
For anyone looking for exposure in the crypto market while staying outside of crypto itself, today’s Chart of the Week is the perfect opportunity.
We’re looking at Hut 8 Mining (HUT) because of its relentless strength as a $2 billion crypto miner.
There are other ways to take advantage of the crypto market with crypto-related trades like Coinbase and Micro Strategies, but none of them are roaring like HUT.
We’re long above 13 and taking profit at the 21 level.
This is a short term trade with minimal risk and more than 60% gains, just how we like it!
Til next week, good trading,
JC Parets
Sponsored Ad
Free Training: 60-Minutes to Trading Freedom
Would you like to make more money in one hour of fun trading than working all day at a job?
Then check this out…
About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
