$HUT update $6.30-6.70 bottom, target still $20+

18 thg 1

I'll be the first one to admit that I didn't see HUT going this low. I rode calls and spot from $12-17.80 but then reentered way too early between $13-$9.

We did get the capitulation move to the downside today, I'm still holding my position as I still think the move will pan out that I'm expecting. I just got the timing and the reentry targets wrong in my previous interpretations of the chart.

Why am I expecting upside from here to new highs?

1. I think we're going to see one more massive run in alts from next week into Mid-February which brings new capital into crypto. This should also benefit miners.
2. The chart looks like we've finally bottomed. Because we went down so quickly, there's an imbalance on the chart which should resolve itself in a powerful move to the upside.
3. Sentiment is in the dumps.

If we get a strong move tomorrow higher, I might exit some of my calls that are in profit, and wait until Monday or Tuesday next week to enter. We still have a thick ichimoku cloud that I don't think can break the $13-14 level until after next week. I don't expect the trend to fully turn bullish until Monday or Tuesday next week after that pivot on the chart. I don't expect the top targets to get hit until early to mid Feb.

Let's see if this is the correct interpretation of the chart.

19 thg 1

Ghi chú

Also one more support that I didn't put on the chart at $5.59. Possible it gets there.

19 thg 1

Ghi chú

We're at the first support, I think we bounce here. We shall see if we hit the next support next week or the following week but I think higher first.

19 thg 1

Ghi chú

Going to start buying calls at $6.30 and keep adding if we get below there. Going to do $8-9 calls for 2/16 expiration.

Likely will enter a full position before close today.

19 thg 1

Ghi chú

So far so good. Bought a couple hundred contracts under $6.30. Up 30%+ already. Now we wait.

Hopefully 3rd time's a charm.

22 thg 1

Ghi chú

Let's see if we end up getting the flush below $6 tomorrow morning, if it happens, I'll just add to my position.

23 thg 1

Ghi chú

Added before close, have another portion of cash to add tomorrow if we see lower open.

Biggest positions now:
8C 2/16
9C 2/16
11C 2/16

24 thg 1

Ghi chú

I lean towards a bounce until Thursday and a new low or higher low to be set Friday.

Then higher next week through February

24 thg 1

Ghi chú

The initial bounce today is fading. Either we keep fading and hit the final low today, or bounce and hit the low later this week.

Either way, low should be in soon and then we should see a large bounce higher next week.

25 thg 1

Ghi chú

There we go, finally getting a solid bounce. Most of my calls are now in profit except for my 11C.

25 thg 1

Ghi chú

Still think we see a higher low tomorrow, then we should be a sustained uptrend after

7 thg 2

Ghi chú

Big move higher incoming... Let's see how high we get.

First target I'm looking for is in the $12 range. I'll update how I'm trading as we see more price action.

7 thg 2

Ghi chú

Top should be around Feb 21st (2 weeks from today).

8 thg 2

Ghi chú

The move has started. As of now, thinking we can get to $16-17 range as a high. We'll have to see if we can go higher than that.

16 thg 2

Ghi chú

Sold out of all of my calls for +400% (as today was expiration for my options). Will look to reenter next week.

Think maybe a dip into Wednesday-Thursday 8.60ish region, then a final leg higher into early March.

21 thg 2

Ghi chú

Added $8 and $11 calls for 3/15 before close at $8.74. Not going to update this one anymore as I think this one will be more accurate: