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Crypto Miner in Strong Trend with Institutional Support Forms Bull Flag

by | Dec 4, 2024

TeraWulf (WULF) shares of the crypto miner closed strongly on Wednesday with the Bitcoin market on the verge of a breakout to highs and the miners looking quite explosive from the recent consolidations. WULF has formed a bull flag now right under key resistance of 8.20 and looks to break above that to close the week for a move to 9 and then $10 likely a good round number target into year end. WULF also could be a big long-term winner in the crypto space as it grows and has seen large bull options continue as well as hedge fund ownership increasing with top fund Lone Pine Capital starting a new stake last quarter of 3.07 million shares and Druckenmiller adding to his stake now at 2.94M shares.

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