CLSK moveLooking to see CLSK continue in the uptrend because of the BTC move and get back into the trend lines
CLSK trade ideas
Is CLSK planning to close the window at 10.87?In my humble opinion I note that a figure of bearish relevance has been forming for days on different time frames. Considering that a retracement of Bitcoin is increasingly plausible, it is advisable to tighten the stops and open some short positions
$CLSK Just a thought. Refer to previous charts. Been buying since $2. Looking for a move towards ATH as we creep closer to the halving. Big boys playing the rake game at this point. Hodl on
CLSK long from the supporthi traders.
After exiting the accumulation zone, the price started a new uptrend.
Recently we saw the price hitting the resistance level at 0,5 fib level.
We are expecting a deeper pullback as the support at 0.618 fib level didn't hold.
Our entry for long would be around 10,50. If the price drops there, it would be another higher low in this uptrend.
Target: 0.382 fib level which is 27 $
CLSK Rejection at $19.91CLSK had a rejection at $19.91. I would be concerned for a significant pullback to around $10. I would want to see more bullishness into the $19.91 resistance level before considering any longs. CLSK and other crypto-related stocks will be impacted by Bitcoin's price action. Bitcoin is showing some bearishness and concerns for a drop so I'm personally not interested at opening longs near previous all time highs unless I see a great setup. For now I think CLSK is at risk of a drop here with a target around $9-10.
CLSK 5 Negative Divergences on the 4 Hour ChartAll the indicators show a negative divergence on the 4 hour chart yesterday.
In order below the chart:
Trend = MACD
Volatility = Bollinger Band Width
Volume = Fisher Transform Money Flow Index
Trend Strength = ADX & ADXR(average strength)
RSI = Speed + average speed line
$CLSK call verticalBought March 15th $14/$15 call vertical for $0.55.
My breakeven is $14.55, as long as the stock is above $15
by expiration, I will have $0.45 (or 81%) profit.
Oversold!
Head and shoulder with target around $100tonight we can have the Head and shoulder with target around $100 confirmed ...
$CLSK Long Re-EntryMy last post on CLSK closed at all 3 targets hit with a 160% gain... if you missed that one I would NOT chase this stock but IF we get a pullback into this area to close this gap, I would say it would be a good re-entry. Would need to do this before the ETF news I would think...
CleanSpark Major Potential CleanSpark Inc - NASDAQ:CLSK
This is a unique mid tier BTC miner that is edging ahead of Cipher Mining in terms of size, production and reserves held (See below for the pecking order of 4 BTC miners).
The CLSK Trade
- Ideal entry would be bounce off 200 DSMA
- Risk/Reward from here is 5.55 which is not bad
- Stop Loss placement at 200 DSMA or POC
Chart Positives
- High Volume is ideal signifying increased interest
,float and momentum
- Price above POC
- Price above 200 DSMA
- Pennant price congestion reaching its decision
point
The Pecking Order for BTC Miners covered to date
1. Marathon Digital NASDAQ:MARA have 156,600 rigs & mined 825 BTC in Mar 2023 (12,964 BTC Reserves)
2. Riot Platforms NASDAQ:RIOT have 95,904 rigs and mined 592 Bitcoin in June 2023 (6,696 BTC reserves)
2. Clearspark NASDAQ:CLSK have 87,936 rigs and mined 575 Bitcoin in July 2023 (1,061 BTC reserves)
3. Cipher Mining NASDAQ:CIFR have 70,000 rigs and mined 493 bitcoin in May 2023 (518 BTC reserves)
Clearspark has earned its place above Cipher mining however both companies have been investing much of their Bitcoin into expanding their production lines this year which is why they have lower reserves than the likes of the well established RIOT.
We will need to keep a close eye on both going forward as they both fully intend to continue to expand. I am already invested in NASDAQ:CIFR with a small initial position (previously shared a chart on this).
I'll be looking for NASDAQ:CLSK exposure between here and the 200 DSMA. The risk reward is reasonable and the chart is attractive.
PUKA
$CLSK back test Confirmed. Time to run to ATHStill in all my original trades on NASDAQ:CLSK I have continued to add all the way up. Time to ride the wave. Congrats to all that jumped in on this one. #Btc #Bitcoinminer
CLSK - The Trend Is Your Friend Until...CLSK has recently been the strongest Bitcoin mining stock and perhaps that has to do with a move to "greener" mining.
But another wild gap up today makes this trend unstable and this may become some sort of Evening Star topping pattern may be printing here.
Its currently in the 1:0.618 extension "Golden Window" (up to the 0.786 overshoot ratio) and if it pivots here, then this is a weak ratio that signals there may be significant downside from here.
Notice that the current candle has gapped up beyond the upper wedge trendline; into the higher liquidity that makes a reversal more likely.
So its time to take some profits here or a more aggressive trader could even short.
This is also on the basis that Bitcoin has no room left to move up if it is to remain in tandem with previous market cycles.
This could hang around depending on Bitcoin, or it could be a fast top, but it will likely see much lower lows; perhaps down to around $5.
Not advice
Cleanspark: Powering the Future of Bitcoin MiningBitcoin is making major moves as we get closer to the Bitcoin halving. NASDAQ:CLSK is poised to benefit from this bullish momentum. We just crossed a major resistance level at $13 & Targeting the next major resistance at $40
Cleanspark recently reported a remarkable 165% year-over-year revenue growth in Q1 of FY2024. This impressive growth is a testament to the company's ability to capitalize on the growing demand for Bitcoin mining services. With a net income of $25.9 million and an adjusted EBITDA of $69.1 million, the company is well-positioned to continue its upward trajectory.
This is one of the best risk reward plays in the CRYPTOCAP:BTC mining companies. All aboard for the ride #LetsGo
CLEANSPARK $CLSK to 50 by Jan 2025Bitcoin Miner CleanSpark, will reach a price above 50 by 2025. Bitcoin will continue its upward climb in the second half of 2024, price will top out around 80-90k and crypto related assets will be lifted with the wave. Alt coins will go nuts and so will competition such as MARA and RIOT etc.. Overall, Cleanspark may be the dark horse because of its focus on mining with only green energy. Every bull market, the debate of BTC energy consumption returns. People like Cathie Wood can now answer that debate by saying, 'look at cleanspark, they mine with 100% renewable energy.' Instantly stock will double... as for 100 price target, thats roughly 20B market cap for CLSK, 2x from the 2021 highs of MARA and RIOT.
CleanSpark (CLSK) Soars as Bitcoin Miner Expands OperationsCleanSpark Inc. (NASDAQ: NASDAQ:CLSK ) has captured the attention of investors with its remarkable performance in the past year, driven by bullish market sentiments and strategic acquisitions in the Bitcoin mining sector. As the company continues to expand its data center portfolio and operations, coupled with the anticipated growth in Bitcoin prices, NASDAQ:CLSK stands poised for further gains in 2024.
The Rise of CleanSpark:
CleanSpark ( NASDAQ:CLSK )has witnessed an impressive surge of 172.22% over the past year, a testament to its solid fundamentals and strategic moves within the burgeoning Bitcoin mining industry. The recent announcement of the company's acquisition of four mining facilities further solidifies its position as a key player in the market.
Strategic Acquisitions:
The acquisition of four mining facilities, including three turnkey sites in Mississippi and one in Dalton, Georgia, for a total of $23.2 million, underscores CleanSpark's ( NASDAQ:CLSK ) commitment to expanding its operational footprint. These acquisitions not only bolster the company's data center portfolio but also position it favorably amidst the ongoing consolidation within the Bitcoin mining sector.
Market Expectations and Bullish Momentum:
CleanSpark's ( NASDAQ:CLSK ) stock has been buoyed by favorable market expectations, with investors showing increasing interest in the company's growth prospects. Technical indicators suggest a building bullish momentum, supported by recent price dynamics and a strengthening trend channel in the medium to long term.
Bitcoin Price Projection:
As Bitcoin prices are projected to strengthen in 2024, CleanSpark ( NASDAQ:CLSK ) stands to benefit from higher mining revenues, further bolstering its position in the market. With Bitcoin's anticipated growth trajectory and CleanSpark's ( NASDAQ:CLSK ) expanding operations, the stock is poised for sustained gains in the coming year.
Outlook and Potential:
CleanSpark's ( NASDAQ:CLSK ) current gains may see further momentum as the stock clears crucial resistance levels, particularly at $9.72 With a strong foundation in place and favorable market dynamics, NASDAQ:CLSK has the potential to emerge as one of the top-performing crypto stocks in 2024. Investors are advised to keep a close watch on key resistance levels, with $13 serving as a potential catalyst for further surges.
Conclusion:
CleanSpark's ( NASDAQ:CLSK ) strategic acquisitions, coupled with bullish market sentiments and the projected growth in Bitcoin prices, paint a compelling picture for the company's prospects in 2024. As it continues to ride the wave of positive momentum, NASDAQ:CLSK stands poised to deliver substantial returns for investors seeking exposure to the burgeoning cryptocurrency sector.
In summary, CleanSpark's ( NASDAQ:CLSK ) ascent in the Bitcoin mining industry reflects not only its solid fundamentals but also its strategic vision for expansion and growth. With favorable market conditions and a bullish outlook, NASDAQ:CLSK presents a compelling opportunity for investors looking to capitalize on the potential of the cryptocurrency market in 2024 and beyond.
Cleanspark - $CLSKNASDAQ:CLSK CLEANSPARK TO ACQUIRE 3 TURNKEY BTC OPERATIONS IN MISSISSIPPI AND ACQUIRE A 3RD FACILITY IN DALTON, GA
THEY NOW HAVE POWER AND INFRASTRUCTURE TO EXCEED 20 EH/S IN 1ST HALF OF 2024.
NASDAQ:CLSK announced doubling of entire mining operation in preparation for the Bitcoin halving.
This is a signal when miners double down its go time.
The chart is Bullish.
Bullish.
cleansparkclean 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.
CLSK - Bounced EarlyIs 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 made possible by having an awareness that Bitcoin would bounce where the high liquidity was as well as work on CLSK chart.
I have linked the Bitcoin thread below where I described the high liquidity area below the orange trading range.
From here I think this is going to be a connective wave that will at some point see some more downside, but looking strong for now 👍.
Not advice
CLSKone 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.
$CLSK: Hibernating for the Next MoonNASDAQ: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.
$CLSK Yieahhhh- 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 this area there is a huge upside. But we need a strong bounce soon to turnaround the selling momentum.
High Risk vs Reward Play, I am a casino guy not planning on getting only my feet wet, going all body in all the way to the nipples for now.
Yieahhhh
Bitcoin Miners Update - CIPH, CLSK, MARA & RIOT 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 23% below current 200 day MA is enough IMO.
A lot people see the recent pull back as a reason to deleverage, this is where I trade differently, its a long term position. The short term volatility will either allow me to get another decent discount buy in or sink deep enough to cancel out the trade. This is how we can gain a full long term bullish trending move with exponential upside. The risk is 23% or not taking the risk and not remaining patient having taken it.
Cipher Mining - NASDAQ:CIFR
$0.83 billion market cap
✅Trade remains open in 9% unrealised profit
✅ Look at that volume increase. It’s a beautiful thing. It reassures us that there is significant green buying rushing into this stock & hints that we on the right side of the trade
🚨 I have raised the stop from $1.77 to $2.16 turning it into a 7:1 risk reward.
- Raising the stop as there is plenty of support above it that should hold from recent lows, H&S baseline and diagonal support line. If all these are lost, cutting losses would be ideal.
Like most of my trades, they require a little more patience and a distain for intermittent short term volatility.
Marathon Digital - NASDAQ:MARA
$4.22 Billion Market Cap
❌Our stop was triggered on the last trade at @ $7.66 with a notable 30% loss. Subsequently this was exactly were price bounced. The original position size was very small so its not end of the world stuff. In the end the stop was too high, we should have place it just a tad lower but…this happens and that’s trading. All the other trades are in profit and fully cater for this loss. Without these rules id be broke. I consider it a necessary loss. I didn’t want more than the 30% limit lost so, that was my risk tolerance for the position size.
Onto the front foot what do we do next?
✅ I set a bid at $14.31 where i think we may get a bounce from the 200 day SMA
✅ You could enter right here for the potential head and shoulders baseline bounce. I could consider that but if but it would be watched like a day trade. I'll just see how tomorrow goes first. The bid is at $14.31 for now.
🚨 I am allowing for a 30% loss again with a stop @ $4.41 however I am starting with what was left after the last loss, 70% of my original position and I'll be watching this a lot closer.
I actually love these trades because they teach you something, you realize the small position size and the 30% loss was within your tolerance, enough so that you can come back at the trade again and with exponential potential returns the prospect draws you in once again. The risk reward is there. Alternatively, you could just DCA into these and for years through thick and thin, BUT again, position size should be tolerable for you to patiently sit on your hands and let the trend take shape.
Riot Platforms NASDAQ:RIOT
$2.42 Billion Market Cap
▫️ No position open in RIOT yet as it appears to be the weaker of the charts we have looked at.
▫️ In our last post we noted volume is declining which is negative and the RSI was not yet oversold. We noted both of these could mean more sideways or price declining action. Since then we have actually increased and hold a 30% higher position from $9.13 - $11.73 however price is dropping fast and has not managed to break out of the pennant. I believe this demonstrates relative weakness to the other charts noted.
▫️ We are still forming midterm pennant (dashed lines). A break out of this pennant would be an a good signal on direction.
▫️ Strong Historic Price Support between $8.50 and the POC at $7.40 (green bar). If you were going to risk a trade here, Id be playing off the lower end with a tight stop.
▫️ We are falling below the 200 day SMA (Not Ideal with pennant over head resistance).
Now don't get me wrong, RIOT will likely rise like the other miners, however at present NASDAQ:CLSK is showing significant relative strength having broken out of its pennant , well above its 200 day MA and sitting in 40% profit. On the contrary, we have strong support for NASDAQ:RIOT at c. $9.00 which could present an opportunity. We noted $8.50 as a good level last post, in the end price bounced from $8.61. We cant be too greedy.
Summary
The clear winner is Cleanspark NASDAQ:CLSK with a moderate market cap of $1.5 billion and a chart demonstrating relative strength with us sitting in approx. 40% profit.
The MARA chart is demonstrating strength and may provide a great opportunity as instructed above however the market cap of $4.22 Billion clearly out sizes CLSK and may mean a slower rise or growth potential. MARA actually mined a record 1,852 BTC in Dec 2023 and have increased BTC Reserves have increased from 12,964 to 15,174 as of Dec 2023. Theses are incredible numbers.
Tomorrow I will look at a comparison of how each of these miners are performing in terms of rigs active, reserves held and BTC being mined.
PUKA
$CLSK SHORTIt looks like CLSK is headed to my 7.31 price target I marked up awhile back. It can be supported by the 200 floating underneath
