$CLSK Cleanspark

Has it been grueling? Undoubtedly. And that’s exactly what a real multi-year accumulation process feels like. Long stretches of boredom punctuated by violent fakeouts that punish both the impatient bulls and bears.

Yes, one could've made a killing swing trading this. But, that's not my style (can totally be yours fyi).

When I zoom out on the monthly, the cleanest fact on the chart is that price has been carving higher lows since the 2020 washout even while it refuses to grant acceptance above key supply (resistance) levels.

Since 2018 one can draw a massive symmetrical triangle pattern. Price is now sitting near the apex, at a point of maximum volatility compression. Its why it’s felt “stuck forever,” and like it wants to move. It's a multi-year pattern that has a lot of pent up energy yet to be released. I've been saying this for months too, you don't have to believe me. I have the patience to see this play out.

And one thing needs to be made clear. The timing of the move is not as important as the direction. The market isn't here to give anyone polite entries. It's job is to psychologically wear you out and second-guess / reconsider your thesis. We are now years into a consolidation pattern making it extremely difficult to change the current character of the chart.

And this is where the ichimoku cloud is actually the most important part of this analysis, an indicator I've added to my toolkit thanks to @cantonmeow

Historically, price kept getting rejected by the underside of the cloud (see red circles aka graveyard of hope).

Since it got inside 8 months ago it’s been ranging within it. It's why the stock was very bullish during the summer going up so far as the TOP range of the cloud, which funnily enough ALSO happens to be the 0.786 fib. And, what happened there? It got rejected. Again.

I interpret this as a sign of absorption / digestion happening. It’s the market re-pricing uncertainty and forcing supply to show itself. In other words, market is undecided / neutral on the direction of stock. Short-term thinking retail investors get impatient and sell out of frustration all the while institution accumulate

End of day though every single rejection has occurred at the most predictable of areas, the 0.786 fib...that's not a mistake. $CLSK has never been able to close the month above the 0.786, just wicks.

Wicks = exploration type behavior (but not ready)
Monthly closes above resistance levels = acceptance

CLSK has repeatedly shown "I can stop by here, but I'm not allowed live here"

It's basically where the market agrees the battle is. This type of rigorous assessment of the market is one I continue to learn from @MarketMaestro1 and @AlemzadehC

Once CLSK can see consecutive monthly closes above the 0.786 fib near $21 and 0.887 it is clear skies into price discovery. Mid-double digits and yes, triple digits can become a possibility, especially when I look at what I expect for Bitcoin over the coming years. Check my BTC / GLD pair I've shown many times

So now the question probably is, why does this take so damn long? Prolonged consolidations happen when 2 forces are both true:
- Strong hands are accumulating exposure (because the long-term optionality is large)
- There’s persistent supply overhead (because the path to get here was brutal)

The market doesn’t hand out clean trends easily. It demands proof and it extracts a psychological tax while it waits.

What we currently see is a massive 6 yr symmetrical triangle at the tightest compression area that it's ever been in (which typically precedes a breakout). To me, this is very bullish, especially considering the current tailwinds such as:
- Higher lows going back 5 years
- Multi-month consolidation within the cloud
- Higher Bitcoin prices
- Institutional ownership at ATH
- 1.4 GW power infrastructure of which multiple MWs can be retrofitted to HPC/ AI
- Constrained US energy grid / lack in supply of power
- Increasing US investment /spending on AI infrastructure

Few believe this can happen which is exactly why I believe it can. I'm personally ok waiting months or another year for this to play out because the outperformance to be expected if/when this does breakout will be more than worth the wait. Just have to be able to accept the volatility and see what many others don't see. If you can't, that's also fine

This is one of the few charts in the space where the risk has already been “paid for” via years of pain, while the upside is still not fully believed.