CLSK monthly data is conveying huge accumulation / net buying from the 3.0 levels. This level has been no question the most important order block level where buyers converge. A prospect of a generous upward momentum from this price level will be inevitable.
Spotted at 3.5
TAYOR. Be mindful on safeguarding capital, always.
-----------
Related Fundamental News:
Cleanspark boosts mining capacity with new machinery worth HKEX:145 Million.
👉 The US-based cryptocurrency miner NASDAQ:CLSK (Cleanspark Inc) purchased 45,000 units of the Antminer S19 XP CRYPTOCAP:BTC mining machines for $144.9 million.
👉 The current computing power of CleanSpark is 6.7 EH/s, while the installation of the new equipment is expected to push it to 13 EH/s.
👉 According to the deal, the manufacturer will distribute 25,000 units in August, while the remaining 20,000 should arrive in September. CleanSpark plans to deploy all of them at its mining facility in Sandersville, Georgia.
👉 CleanSpark CEO Zach Bradford said the Antminer S19 XP is “the most power-efficient bitcoin mining machine available in the market today” and raised hopes it will turn into a “key component” for the company’s operations.
👉 He explained that the multi-million purchase and the delivery of first-class machinery is part of the firm’s strategy prior to the Bitcoin halving that is expected to occur in the spring of 2024.
👉 The pivotal event, reducing the rate at which new coins are created, will cut block rewards in half – from the current 6.25 BTC to 3.125 BTC. Many experts believe the process will fuel a price surge of the primary cryptocurrency, similar to previous occasions.
Trade active
⋅
So far so good for CLSK. Price growth may continue...
Trade active
⋅
Up by almost +80%. Congrats holders. More to go.
Trade active
⋅
MACRO VIEW: TRI-MONTHLY DATA UPDATE
First bubble up volume finally re-appeared after 2.5 years -- conveying a trend shift. Expect some significant price movements from now on.
Trade active
⋅
CLSK corrected extensively back to its original weekly base range.
Now at attempt to reverse to the upside anew has been initiated.
Signficant net buying registered. Expect a retest of 7.0 price range in the next few weeks.
Good call sir! Where would consider taking a good chunk of profits and buy lower?
Aonee
⋅
I think it will skyrocket tonight/tomorrow after the earnings. Mining is hot and it will be imo.
hichamnait1
⋅
Would you consider getting out of the trade as it ran higher and many indicators are on overbought territory? Or does it show it still has strength for more upside? Thank you for your time 🙏
JSAL
⋅
@hichamnait1, Best win-win solution is: Take some to reward yourself then Leave some for more possible rise. Your protected and rewarded at the same time. :)
One factor to consider is, CLSK just starting shifting on long term spectrum -- so the goal is more long-term pricewise.
haroming
⋅
Great analysis, which indicators are these?
binglis34
⋅
Welp it just dumped
JSAL
⋅
@binglis34, Normal micro trim downs. Most gains are still preserved from our 4.4 base. :)