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
