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CleanSpark, Inc.

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CLSK trade ideas

AMERICA'S BITCOIN MINER: CLEANSPARKThe chart for Ethereum Futures is showing a promising inverse head and shoulders pattern. This indicates a potential turnaround for the struggling bitcoin mining industry. It appears that miners are behaving more like altcoin investors rather than taking a leveraged stance on Bitcoin. This shift suggests that their fortunes are more closely tied to the performance of Ethereum rather than Bitcoin itself. Here’s what you should be aware of: CleanSpark (#CLSK), is set to be added to the S&P SmallCap 600 index on March 24. This index features smaller publicly traded companies in the U.S. that have a market cap exceeding $1 billion and fulfil certain financial requirements. Being included in this index may enhance CleanSpark’s visibility, boost its trading volume and liquidity, and draw in more institutional investors. CleanSpark is the second crypto miner to be added to the index after peer Marathon Digital was added to the list last year. Companies in the index typically benefit from increased trading volume and improved liquidity, making their shares more accessible to a broader pool of investors. "CleanSpark's inclusion enhances visibility within the investment community," CEO Zach Bradford said in the announcement. “Our inclusion enhances visibility within the investment community and gives us an opportunity to demonstrate the value of being a pure play, vertically integrated Bitcoin mining company and making exposure to our model more broadly available." CleanSpark operates bitcoin mining facilities across the U.S., focusing on energy efficiency and cost-effective power sources. The company has expanded its operations over the past year with the acquisition of peer GRIID Infrastructure.
NASDAQ:CLSKLong
by BallaJi
$CLSK / 3hAs illustrated on the 4h-frame above, NASDAQ:CLSK 's correction in Minor degree wave B still remains in very late stage! As anticipated on the structure of current decline in double zigzag wave ((y)) the correction in wave (b)'s quite done, and the following decline in its wave (c) would be expanding in a five-wave impulse likely in couple of weeks ahead. Currently, further decline of wave (c) would lie ahead( by 24%), and the ultimate target remains intact as well >> 6.27 NASDAQ:CLSK might well conclude the entire correction in its wave B, on converging its Fib- expansion levels( level 1, where the ongoing wave ((y)) would equal the wave ((w)) & level 1 on the Fib channel ). #CryptoStocks #CLSK #BTCMining #BTC
NASDAQ:CLSK
by ElliottChart
$CLSK / 4hNASDAQ:CLSK 's the entire correction in Minor degree wave B is in very late stage! As anticipated on the structure of the current decline in double zigzag as wave ((y)), the correction in Minor degree wave (b)'s quite done, and the following decline in wave (c) has started as well. Currently, further decline( likely by 20%) of wave (c) lies ahead, and so the ultimate target remains intact >> 6.27 NASDAQ:CLSK might well conclude the entire correction in wave B, on converging its Fib- expansion levels( level 1, where the ongoing wave ((y)) would equal the wave ((w)) & level 1 on the Fib channel ). #CryptoStocks #CLSK #BTCMining #BTC
NASDAQ:CLSK
by ElliottChart
$CLSK / 4hNASDAQ:CLSK has worked marching in place in the last 3 days, closing the week by 20% decline as well and it seems to have poised for further decline over the few coming weeks. >> The following decline towards the Fib-extension level surrounding 6.26 lies ahead. And also an ultimate target might be around >> 5.92, where Minor degree wave B will achieve the 1.38 Fib retracing level of the expanded diagonal wave A, with respecting an expanded flat correction as the ongoing wave (X). #CryptoStocks #CLSK #BTCMining #BTC
NASDAQ:CLSK
by ElliottChart
$CLSK / DailyThe continuing decline in NASDAQ:CLSK and exceeding 100 percent of diagonal wave A would suggest to morph into an ABC flat formation as the ongoing correction in wave (X), instead of the previous ABC zigzag. So the Minor degree wave B of (X) would remain in its late stage, and continuing to decline in its wave ((y)) is expected in few weeks ahead. >> Wave B of a flat formation usually retraces between 100 and 138 percent of wave A. But in this case the entire wave structure implies to be ending the current decline NOT to extreme low. So the expected target would be pointed well above the Fib expansion level at 6.26. #CryptoStocks #CLSK #BTCMining #BTC
NASDAQ:CLSK
by ElliottChart
CLSK - not yet….It does seem like that is a bear flag formation and that we are in wave C corrective. There is also a line of stop losses which looks like a plausible reason for the market to run through those stop losses under each low. The market has also failed to break above resistance so far and it would therefore be risky going long now as we are in the middle of a range with no clear sign of wave C having been completed. I therefore think it is best to sit on the sidelines and see if the market moves according to the plan. The trade is 1:33 targeting 53.86. Trading rating 7/10 Chance of success if it moves as shown to entry 6/10 Risk to reward 8/10
NASDAQ:CLSKLong
by TipsOfPips
$CLSK has the potential for more than 17% growthCleanSpark, Inc. (CLSK) is a company operating in the software industry, focusing on energy solutions and Bitcoin mining. Below is a technical and fundamental analysis of its stock, along with an assessment of its growth potential. Technical Analysis The stock has experienced a 3.51% increase over the past week but has seen a 6.78% decline over the past month. Technical indicators present mixed signals. The Relative Strength Index (RSI) is at 45.84, indicating a neutral position. The Moving Average Convergence Divergence (MACD) shows a value of -0.22, suggesting a potential bearish trend. However, the Average Directional Index (ADX) is at 11.87, which is relatively low and may indicate a weak trend. Resistance levels are identified at $12.48 in the short term and $17.63 in the mid-term, while support levels are at $9.21 and $8.09, respectively. Fundamental Analysis CLSK has a market capitalization of approximately $2.93 billion, with trailing twelve-month (TTM) revenue of $378.97 million. The company reported a net loss of $149.20 million, resulting in a TTM earnings per share (EPS) of -$0.69. The forward price-to-earnings (P/E) ratio is 5.33. STOCKANALYSIS.COM Analysts have given CLSK a "Strong Buy" rating, with a 12-month average price target of $22.71, representing a potential upside of approximately 100% from the current price. STOCKANALYSIS.COM The company's financial health is considered average, with concerns regarding profitability. However, CLSK is experiencing strong growth and is valued neutrally, which is viewed as a positive combination. CHARTMILL.COM Growth Potential Given the analyst price target of $22.71, CLSK has the potential for more than 17% growth from its current price. The company's involvement in Bitcoin mining positions it to benefit from favorable cryptocurrency market conditions. However, investors should be mindful of the inherent volatility in both the cryptocurrency market and CLSK's stock. Conclusion CLSK presents a mixed technical outlook with promising fundamental growth prospects. The potential for significant appreciation exists, but investors should carefully consider the associated risks and market volatility.
NASDAQ:CLSK
by swingstocktraders