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.
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.
Note
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Clean Spark is tied to the price of Bitcoin. If BTC dips, CLSK will do the same. At the moment, the price is trying to find a bottom from which it will not go lower, so that investors know it's time to buy. It could even dip a bit below to grab the liquidity resting below and then make a sharp move to the upside.Note
CleanSpark might break out of its triangle pattern. The Bollinger Bands squeeze could lead to a breakout to the upside or the downside. At the moment, it appears to be leading to the upside. Additionally, the RSI is breaking out of its resistance line.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.