EQT stock perp on Bitunix: the 3 PM breakout from 54.65-55.72 is holding near 56.5, buying dips into 55.7 with a stop under 55.1

EQT Corporation (NYSE: EQT) is the largest natural gas producer in the US, so the stock trades on gas prices, storage reports and winter demand more than on broad market mood. Bitunix opened a USDT-margined EQT perpetual at 4:00 AM ET today, with up to 20x and funding every 8 hours.

Bitunix snapshot, 6:55 PM ET

• Last 56.51 against a 54.90 open, up about 2.9% on the day.
• 24h range 54.45 to 56.86.
• 24h volume about 73.8K USDT, so the book is still thin.
• Funding slightly positive, longs paying a little.

1h structure

Price chopped between 54.65 and 55.72 until 3 PM, then broke out. The 3 PM, 4 PM and 5 PM hours closed at 56.13, 56.15 and 56.48, and the hourly lows stepped up from 55.13 to 55.58 to 55.71. The 56.86 high came in the 4 PM hour and has not been retested yet.

Bias: LONG

Rising lows above the old range top favor buying dips that hold 55.6 to 55.7. First target is 56.86, then continuation if that high gives way.

Invalidation: a 1h close below 55.1, back inside the old range.

The cash market is closed after hours and gas headlines can hit EQT at any time, so moves on a day-one perp can be jumpy. Keep size small.