Check out the action in this bitcoin miner – March 25, 2024
Dan Fitzpatrick here at StockMarketMentor.com. Just a quick note here on CleanSpark ( NASDAQ: CLSK ).
This is a Bitcoin miner, they are one of the more environmentally friendly things, and they’re doing all that stuff. They are one of the few companies that is actually going to be continuing to make money after the halving of Bitcoin in the middle of next month; I don’t know exactly what day it is.
From what my members tell me, and from what Scott McGregor, our crypto guru at Crypto Market Mentor says, CleanSpark ( NASDAQ: CLSK ) is one of these stocks that is poised to rocket. And it’s already doing that with this Bitcoin craze right now.
If you look at some of these other Bitcoin miners like Riot ( NASDAQ: RIOT ), or Marathon ( NASDAQ: MARA ) are two that come to mind, they’re not doing too well here. Hut 8 ( NASDAQ: HUT ), the same thing. But with CleanSpark ( NASDAQ: CLSK ), these guys are going in the opposite direction.
So this is my trade, and my sense is, if you are looking at this on YouTube you’ll see some people, probably one person pretending like they’re a whole bunch of them talking about somebody amazing on Telegram, and of course, you can trade with “her”, it’s typically a her, I don’t know why, and you’ll make 98 Bitcoin, probably by Friday. I don’t know, but they do seem to haunt these kinds of things.
With CleanSpark ( NASDAQ: CLSK ), here’s the deal. You will see the volume has gone way up here, most of these are green skyscrapers. You’ve got some red things here, big selling pressure here, big selling pressure here. But what’s going on? The stock is now higher than all of the prices on these red bars.
What’s going on here is, the buyers are now in control of this. And so my suggestion is this, go ahead and buy this puppy right here, right now. They don’t report earnings for quite a while. The weekly chart looks pretty deadly, running straight up. You can use the 20-day moving average, which is this little gray line, as the line of demarcation for whether the stock is actually working or not.
Another way you could do this is to look at the high, and then draw this, this is an anchored volume-weighted average price gauge. And as long as the price is above this level, it tells you that the bulls are in charge, that the buyers are in control of the stock. This is a really key indicator if you know how to use it. If you don’t know how to use it, it’s no different than a moving average.
This is a really, really strong stock right now. I pitched it to Cramer, and he asked me if I had any ideas for his Off The Charts deal and I gave him this. He said it was too small, and so I am giving this to you instead.
Free Chart