CLSK Finally Ready for a strong move up?Price printed a textbook motif wave 1 and ABC wave 2 correction ending at the 61.8 Fibonacci retracement golden pocket and High Volume Node (HVN) major support.
Price continues to flirt with weekly 200EMA and looks ready for another test as resistance on the local chart.
The weekly pivot still looms above but if price is in a macro wave 3 we should punch through these resistances over the next few weeks and head towards long term target of $80.
Wave 2 can extend all the way $1.80 before invalidation, though the lower prices goes, the lower the probability of the analysis being correct
Safe trading
CLSK trade ideas
CLSK Going to $27There is always a downside, but I believe Risk vs Reward is here. It's not if, it's when. If we breakout to the downside of the triangle then we will test the support and the bottom of the wedge. If we break to the top of the triangle then we go for the breakout of the wedge and on the way to $27. I am adding at these levels and of course if it goes down, I am adding more.
CLSK / 2hAs illustrated on the chart above, NASDAQ:CLSK revealed that wave a of (y) in an expanding leading diagonal, which highly confirms that a relatively deep correction in wave ii (circled) is well underway, as anticipated.
Wave Analysis >> The retracement of wave b should have completed its second subdivision down, and the last one in 5% >> retrace up is now expected. The retracement target >> 9.51
The anticipated decline by 17% as the last subdivision >> wave c of (y) would follow very soon and finally will conclude the entire correction in Minute degree wave ii(circled).
The Retracement Targets >> 7.93 >> 7.84
Trend Analysis >> After the completion of the entire correction in the Intermediate degree wave (2), the trend will turn upward to an impulsive third wave in the same degree.
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CLSK / 2hNASDAQ:CLSK had a 6% intraday decline today, completing the second wave of an expanded flat correction in wave b upward.
Wave Analysis >> The leading expanding diagonal as wave a is correcting up in wave b, which should have remained in the last subdivision upward that 7.4% advance now is left.
The retracing up target remains intact >> 9.51
An impending decline by 17.6% as the last subdivision >> wave c of (y) would lie ahead that finally will conclude the entire correction in Minute degree wave ii(circled).
The retracing down targets >> 7.93 >> 7.84
Trend Analysis >> After the completion of the entire correction in the Minute degree wave ii(circled), the trend will turn upward to an impulsive third wave in the same degree.
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CLSK / 2hNASDAQ:CLSK >> 8% intraday market sell-off should be likely the partial decline in the last subdivision of the ongoing wave (y), as illustrated in my 2h-frame above.
Further decline by 12% in the ongoing last subdivision >> c of (y) finally will conclude the entire correction in Minute degree wave ii(circled).
Trend Analysis >> The trend will turn up, and an impending impulsive third wave of the same degree is anticipated to follow soon.
The Retracement Targets >> 7.93 >> 7.84
CLSK / 2hAccording to the prior analysis, NASDAQ:CLSK continued to retrace up by 5.5% today, as expected.
Wave Analysis >> The retracement in impulse c of the flat correction in (x) may have ended at 10.74 today, and the anticipated following decline of 25% will soon develop a three-wave sequence abc as wave (y) to conclude the entire correction in ongoing wave ii(circled).
The retracing down target >> 7.93
Trend Analysis >> After the conclusion of the entire correction in the Minute degree wave ii(circled), the trend will turn upward soon to an impulsive third wave in the same degree.
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CLSK / 2hAs expected, NASDAQ:CLSK has retraced up today, but also unfolding a flat correction of a larger degree in wave (x), which could have remained in progress and at a very late stage now.
Wave Analysis >> After completion of the retracement up in wave c, it's anticipated the following decline of 24% will develop a three-wave sequence abc as wave (y) to conclude the entire correction in wave ii(circled).
The retracing down target >> 7.93
Trend Analysis >> After the conclusion of the entire correction in the Minute degree wave ii(circled), the trend will turn upward to an impulsive third wave in the same degree.
#CryptoStocks #CLSK #BTCMining #Bitcoin #BTC
CLSK / 2hNASDAQ:CLSK has revealed that wave a in an expanding leading diagonal. So the retracement of wave b may remain in progress.
The anticipated decline by 17% as the last subdivision >> c of (y) will follow soon and finally would conclude the entire correction in Minute degree wave ii(circled).
Trend Analysis >> After the completion of the entire correction, the trend will turn upward to an impulsive third wave in the same degree.
The Retracement Targets >> 7.93 >> 7.84
CLSK / 2hNASDAQ:CLSK has retraced up by 7.9% in total, which may be considered as a correction in wave b of (y). The following decline of 20% in the last subdivision of the entire correction in wave ii(circled) lies ahead soon.
The Retracement Targets >> 7.93 >> 7.84
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CLSK / 2hAs anticipated, NASDAQ:CLSK continued to sell off >> 6% today and closed the week with an 11% decline in total. Now 16% is left to complete the structure of the entire correction in wave ii(circled) in a three-wave sequence >> (w)(x)(y).
The Retracement Targets >> 7.93 >> 7.84
#CryptoStocks #CLSK #BTCMining #Bitcoin #BTC
CLSK / 2hNASDAQ:CLSK
The retrace up in wave (x) of the correcting down in wave ii(circled) should be over, and the following decline of its same degree wave (y) may have started its way down. So, the short-term bearish case remains intact.
The Retracement Targets >> 7.93 >> 7.84
#CryptoStocks #CLSK #BTCMining #Bitcoin #BTC
CLSK / 2hNASDAQ:CLSK has retraced 72% of the wave (w) so far in a three-wave sequence as the corrective wave (x).
The short-term bearish case remains intact. A decline of 22% in the same structure & degree as wave (y) of correcting down in wave ii(circled) is well anticipated.
The Retracement Targets >> 7.93 >> 7.84
#CryptoStocks #CLSK #BTCMining #Bitcoin #BTC
CLSK / 2hNASDAQ:CLSK closed the week with an expected 11% swift retrace up to complete the structure of the wave (x) in a three-wave sequence.
The short-term bearish case remains intact well. A decline of 19% in wave (y) of the ongoing ii(circled) would likely lie ahead.
The Retracement Target >> 7.93
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CLSK / 2hToday, NASDAQ:CLSK declined by 5.3% under extension of the diagonal boundary line, which well functioned as a resistance line. The developing wave so far may considered as the second subdivision of the wave (x) upward.
>> There are differing formations that an entire correction may develop.
The short-term bearish case remains intact. An estimated decline of 21% is anticipated to follow after the completion of the ongoing wave (x).
#CryptoStocks #CLSK #BTCMining #Bitcoin #BTC
CleanSpark Inc. (NASDAQ: CLSK) Stock Analysis and ForecastCleanSpark Inc. (CLSK) recently experienced a pullback from the $11.09 level, closing at approximately $9.36 at the end of last week’s trading session. This movement may indicate the formation of another lower low, aligning with the current broader market sentiment.
Upon reviewing the technicals, particularly the ascending trendline, the following entry strategy is proposed for potential trading opportunities:
Entry: $9.36
Stop Loss: $8.47
Take Profit 1: $12.00
Take Profit 2: $12.50
As always, it’s crucial to approach trading decisions with caution and implement appropriate risk management strategies.
Reason: The analysis is based on recent price action and technical patterns, but market conditions and external factors can shift trends unexpectedly.
If you found this analysis helpful, please like, comment, and share.
CLSK / 2hNASDAQ:CLSK retraced up 3.4% today and stayed under the diagonal boundary line extension. It may considered as the first part of the wave (x) upward.
>> There are differing formations that an entire correction may develop.
The short-term bearish case remains intact. A decline of 21% is expected to follow after completion of the ongoing wave (x).
#CryptoStocks #CLSK #BTCMining #Bitcoin #BTC
CLSK / 2hNASDAQ:CLSK worked 7% retracing up today. There are differing formations that a correction may develop. So, the short-term bearish case remains intact. The decline by 24% may considered as wave (w), and a retracement in the following wave (x) should be underway.
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CLSK / 2hNASDAQ:CLSK worked marching in place today. The short-term bearish case >> decline of wave (a) in progress remains intact. It would be considered just as an initial subdivision of correcting down in Minute degree wave ii (circled).
Wave Analysis >> 24% continuous decline, exceeding and closing the last week under the boundary line of the leading diagonal, all highly confirms that the correction in wave ii (circled) is quite well underway. It should be a relatively deep retracement and will take the coming few weeks.
The retracement target for wave (a) >> 7.93
The next target for wave (c) of ii(circled) >> 7.24
#CryptoStocks #CLSK #BTCMining #Bitcoin #BTC
CLSK / 2hNASDAQ:CLSK well continued to decline by 23% since the May high >> 11.04.
It would be considered just as an initial development of correcting down in Minute degree wave ii (circled).
Wave Analysis >> 23% continuous decline, exceeding and closing the week under the boundary line of the leading diagonal all highly confirms that the correction in wave ii (circled) is quite well underway. It should be a relatively deep retracement and will take the coming few weeks.
The first retracement target >> 7.93
The next target >> 7.24
#CryptoStocks #CLSK #BTCMining #Bitcoin #BTC
CLSK / 4hNASDAQ:CLSK well continued to decline by 23% since the May high >> 11.04.
It would be considered just as an initial development of correcting down in Minute degree wave ii (circled).
Wave Analysis >> 23% continuous decline, exceeding and closing the week under the boundary line of the leading diagonal all highly confirms that the correction in wave ii (circled) is quite well underway. It should be a relatively deep retracement and will take the coming few weeks.
The first retracement target >> 7.93
The next target >> 7.24
#CryptoStocks #CLSK #BTCMining #Bitcoin #BTC