CLSK trade ideas
Bearish 3 Falling Peaks patternCLSK 4 hour chart 3 falling peaks pattern target measured move = approx. 11.70.
Also 11.70 is approx. the long term fib retracement from the Dec 14th 2022 low to the recent high price.
Due to the lower than expect earnings reports from the other miners, I believe CLSK earnings will be significantly lower than expected too.
CLSK back in the buy zoneCLSK is back in the buy zone yet again as it oscillates between 15$ and 19.8$ I love to sell cash secured puts around these zones, I started doing this around 16$ and like to layer in more heavily as we approach 15$. Marathon and Coin earnings are in tonight, with BTC losing structure lets see if this is a bear trap.
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CleanSparkEntry Point: Consider entering a long position if the stock breaks above the recent high of $20.49 with strong volume.
Stop Loss: Place a stop loss at $16.08 to manage downside risk.
Price Target: Aim for an initial price target of $24.25, aligning with the average analyst forecast. A more aggressive target could be $30.00, contingent on sustained bullish momentum and positive news flow.
Conversely, a short position could be considered if the stock fails to maintain above the $16.08 support level, with a stop loss at $19.65 and a target near $13.24.
The recent price action shows CLSK rebounding from a low of $16.08, reaching highs around $20.49. The bullish candlestick patterns observed in the recent sessions indicate strong buying interest. The Ichimoku Cloud analysis shows the price action above the cloud, confirming a bullish trend.
$CLSK repeating price actionI'm more confident that bitcoin will continue to be strong for the next 60 day cycle.
It's interesting to see the NASDAQ:CLSK price action and indicators repeating from last cycle.
It's currently floating above the Komu cloud after a multi month consolidation
The Bollinger bands have contracted after an extreme Bollinger band breakout (not shown for tidiness)
Bitcoin on both final impulse moves was slightly below its ATH
Bought a small position of Aug 23 $25 calls to potentially catch this impulse move.
CLSK is oversold againI'm not a fan of trading this close to earnings reports, so I'm not jumping on this one. Too much negative volatility is possible and when you build positions the way I do as the price drops, a negative earnings report can wipe out months of profits instantly.
That said, the indicator is undefeated in spite of previous earnings reports over the last 12 months so it is tempting. It's very possible a trade could close before earnings, too - the last one was only held for a few days before meeting the exit criteria. But if it slides all the way to earnings time, that's a big bag of stock you're holding when that report drops.
But alas, not being a Bitcoin bro myself and liking to sleep soundly at night, I'm just not brave enough to bite here. I will keep you posted as to how the trade would have worked out though.
Remember: this is NOT investment advice. Sometimes it's a play by play of my trading and sometimes, like now, just entertainment. Be careful out there!
CLSK contractionCLSK is doing its thing again, my cash secured puts have been printing for me. The interesting thing about this chart is while BTC stochastic RSI is heating up on the daily, it remains bottoming on CLSK. CLSK broke my previous wedge to the upside and I Was able to enter a small short at my targeted zones. These zones remains in effect.
-CSP around 15-16$
-Profit taking around the median of the range which is 17.5$
-Covered-calls as we approach 18-19$
CLSKHad a heavy position earlier, closed today to reduce the concentration. Will restore buys as soon as the correction will look more reasonable. Lower time frame chart in the updates
The structure is mega-bullish.
CLSK ranges CLSK continues to range in the general area between 15.5 and 19.5. With BTC rejecting further bearishness for now we look for upside. My strategy for this dump has been to sell 15.5$ and 15$ puts on a weekly basis for premium. I plan to exit the trade at 80+% profit today or tomorrow to capture more Theta decay. Hopefully CLSK will bounce a decent amount above 15.5$ today, if not I will take assignment on these if the premium does not change enough in my favor. I will then sell covered calls as BTC heats up.
-Remember this is a daily chart, these things take a few candles to play out, these are not immediate
AVOID CLSK JULY 7 2024I have clearly explained why to stay away from clean spark. I can catch it at a higher level and minimum risk.
Right now the risk is too much. If you have any questions feel free to DM me.
Clsk looking bullish 6th July 2024The video will uploaded soon with logics and I believe in making money with data and with fluke.
Clsk is looking good to add positions here. Will show you where & when to add option positions in the analysis.
Rentering CLSKI am starting to sell 15.5$ puts on CLSK as it approaches the bottom of the range I have been trading for a few months. I like this strategy as I can be long but accept that there can be further downside at the same time. I will be layering in sells as we dip lower starting now.
-The lowest I would expect CLSK to go to is about 14.3 if BTC gets very bearish on a wick
-I would love a bounce around 15.6ish here but would be happy to slowly sell these if BTC remains boring around 60k
CLSK - A potential setup for a swing tradeRemain vigilant for daily reversal candles occurring near the support area. In the event of a daily closing breach of the support levels (red lines), there is a possibility of further downward movement, emphasizing the importance of implementing risk management strategies.
Long CLSK @16.50Same story as JMIA. Oversold and good track record - will post more track record details later.Holding until overbought and profitable.
Bullish Consolidation Ending
bullish kumo breakout after 125 day consolidation
mid point of PF held
triangle thing
triple bottom scoopy thing (iHS)
entry: here and/or WF HH and/or DCA and/or blue PF midpoint
exit: 33-40
SL: <15, below Cloud
CleanSpark Long on Range BreakSeeing a nice stair-stepping pattern on CLSK. This stock has had great momentum and it looks like it could be breaking out of a trading range soon. Could continue to offer great upwards momentum in the near future.
CLSK update on breakoutThis chart did indeed breakout to the upside, as did my Riot chart ( although weaker). We enter steep resistance here, most of these upside resolving wedges I post fall apart and often to back to where the broke out or completely fall apart. With recent BTC weakness I have decided to enter a safer naked put setup 15$ strike for September to juice my downside bet. I have also de-risked and left all of my options selling positions on BTC related stocks last week before the major pivot continued.
-I expect at least 15.5$ here soonish
-Followed by a dip into the demand box again.
Clean Spark is getting ready. 🚀CleanSpark (CLSK) is closely tied to the price of Bitcoin (BTC) because it is a Bitcoin mining company.
When BTC breaks out, CleanSpark tends to follow.
Currently, BTC appears to be preparing for its next upward surge, while CleanSpark is forming a symmetrical triangle pattern.
Once CLSK's price breaks out of this symmetrical triangle pattern, the next move will be confirmed, potentially targeting the previous resistance level at $40.
