clean spark is rebounding between a daily and weekly levels. The first weekly apex is not until April. If the weekly support at 6.64 breaks the next weekly apex is not until early June (Q2 of 2024)
Any breakout of the weekly apex will aim for the daily resistances in red.
Is up 13% so far today and my short puts are now up at 72%.
It won't be too long before it will be time to buy them back to close the trade and take the premium.
I have overlaid BTC so you can see how early this bounce happened.
It began to bounce before BTC had bottomed. And that was fine because I use limit orders to capture an area.
This trade was in part...
one of the only miners with the potential to be profitable post halving with the currnet BTC price. Not bad if youre looking for exposure to the coin but dont want to get your hands dirty with crypto.
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...
NASDAQ:CLSK Daily:
Expect ALL miners to mirror #Bitcoin's trends; some more intensely.
Targeting a 200 DMA tap and consolidation as we approach earnings on 2/8.
Less likely but possible: breaking below last month's 5.73 low will send us to $5.
In the meantime, I expect RSI and MACD to begin an upward curl between now till Bitcoin's April halving.
- approaching the high volume profile that can act as support
- sitting in the golden fib retracement
- reaching previous resistances that can be turned support
- RSI shows a broadening channel and is now on the bottom part of the channel
- This can be the end of Wave 2 and start of a huge Wave 3
NASDAQ:CLSK is under huge selling pressure, if it can withstand...
Cleanspark Inc - NASDAQ:CLSK
$1.5 Billion Market Cap
✅Trade remains open in 39% unrealized profit
(average DCA of $5.85)
✅ The Volume on this chart is exceptional and really adds to my conviction. I may double down with another buy if we get down to the 200 day MA.
🚨 I have raised the stop from $4.50 turning it into a 23:1 risk reward. Raising as...
Didn't get a chance to post this one here but same as the other 2 miner longs I posted.
Clean Spark is currently mining the most profitable Bitcoin in the space at a cost basis of $14,500/coin and currently holding the 200 day MA with Bitcoin ripping again. There will no doubt be a pullback coming but the trend is up right now. Clean S/R with obvious stop losses...
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.
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Related Fundamental...
NASDAQ:CLSK Bullish Gartley with Hidden Bullish Divergence LONG.
Blackrock, Vanguard, Fidelity and etc. accumulated last December-February. Miners have been stalled out after pulling back. Line in the Sand here to see if this Bullish Gartley is signaling accumulation before retesting the highs. #btc #clsk
A few different ways looking at the chart, I see the same conclusion, that after a small rally to catch up with the price action of BTC, CLSK will get one more leg down before the big move up (Wave 3). The current bounce is quite wishy washy and there's also a H&S for the sake of classic TA fans.
CleanSpark, Inc. (Nasdaq: CLSK) is one of the fastest-growing public Bitcoin miners in North America that gained wide interest from investors thanks to its operational efficiency. Over the last 5 months, the company increased its hash rate by nearly 50%, positioning itself to reach its planned capacity of 16 EH/s by the end of the year. With 2 major Bitcoin...
NASDAQ:CLSK
It is clear now CLSK started wave A of wave 2.
So from here we could bounce back in 3 corrective
waves forming B of 2
and then we head back down to complete the correction of wave 2.
The best wave to build position in is wave 2
same thing happened to NFLX recently, this can dip to 5.10-5.3 pivot level area before the next move higher
target 7-8 after the dip 🎯 boost and follow to show your support 😛
