Is Hut 8 Trading In A Descending Triangle?
It would be interesting considering Bitcoin broke down from a massive descending triangle recently. Maybe this is one giant bull flag, but I don't see why Hut 8 would rip to the upside & break resistance if the underlying asset is declining in price.
Hut 8 has held up relatively well compared to other publicly traded Bitcoin & cryptocurrency miners. Even compared to Bitcoin itself. Bitcoin is down roughly twice as much as Hut 8 on a monthly & 3 month percentage gain basis. Weird.
I think the up listing the TSX is going to actually have a very bad effect on the sp & I wouldn't be surprised to see this get into the low 90c range. The tsx isn't your friend, lol.
Time will tell per usual..
Hut 8 has held up relatively well compared to other publicly traded Bitcoin & cryptocurrency miners. Even compared to Bitcoin itself. Bitcoin is down roughly twice as much as Hut 8 on a monthly & 3 month percentage gain basis. Weird.
I think the up listing the TSX is going to actually have a very bad effect on the sp & I wouldn't be surprised to see this get into the low 90c range. The tsx isn't your friend, lol.
Time will tell per usual..
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