Continuing my analysis by popular demand, next on the list is Cleanspark.
This chart is slightly less predictable than some of the other charts we have been reviewing. In particular CLSK has several zones of confluence coming together, however, its tough to guess where this one may bounce.
Generally, I like to make a base case using the .618 Fibonacci retracement from the bottom to top of the impulse. This level also comes relatively close in line with the Weekly Level of support between $6.50 and $7.50. On my chart, Ive marked this as a watch level because we have also have the Value area High of our previous accumulation period at $6. Currently, Ive created a fixed range profile dating to the last POP in Mar 22 which is actually showing us a current break of the value area, which means lower prices are more probable than not.
Now if we get acceptance back below the CC Fib .618, then I would confidently expect to see us move down to the previous range point of control at $4.50 area marked as the ideal buy area.
Furthermore, what also throws me off about this chart is the upwards trending line marked in green, which would also be nice to tap at around $4.50.
The 2 zones which would give us the safest trade are lining up together at around $4.50 / $5 which would be the range point of control, combined with the upwards trendline.
Hope this is helpful!
Good luck!
This chart is slightly less predictable than some of the other charts we have been reviewing. In particular CLSK has several zones of confluence coming together, however, its tough to guess where this one may bounce.
Generally, I like to make a base case using the .618 Fibonacci retracement from the bottom to top of the impulse. This level also comes relatively close in line with the Weekly Level of support between $6.50 and $7.50. On my chart, Ive marked this as a watch level because we have also have the Value area High of our previous accumulation period at $6. Currently, Ive created a fixed range profile dating to the last POP in Mar 22 which is actually showing us a current break of the value area, which means lower prices are more probable than not.
Now if we get acceptance back below the CC Fib .618, then I would confidently expect to see us move down to the previous range point of control at $4.50 area marked as the ideal buy area.
Furthermore, what also throws me off about this chart is the upwards trending line marked in green, which would also be nice to tap at around $4.50.
The 2 zones which would give us the safest trade are lining up together at around $4.50 / $5 which would be the range point of control, combined with the upwards trendline.
Hope this is helpful!
Good luck!
Comment:
Getting a small bounce off the weekly. Seems like most miners are still performing weak outside of MARA which has pops and drops.