HUT, ready for more upside

Huge daily candles are perfectly normal behaviour and nothing to be afraid of, we stay zoomed out to observe the larger trend to keep our emotions check.

Price has broken out of the channel upper boundary and a test of the boundary took place as expected, quickly catching a bid. We are now looking for continuation to trigger a long.

The next target is the High Volume Node resistance at $82 just under the R5 weekly pivot. Fibonacci extension 2 has a terminal target of $252, achieved with momentum and tailwinds only.


📈 Weekly RSI is oversold with no divergence and can remain here for months as price keeps increasing.

👉 Analysis is invalidated if we close back below the weekly 200EMA