$CLSK Trapped between Critical Resistance and Support?

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CLSK Shot through the weekly 200EMA and hit the weekly pivot resistance and was rejected into the High Volume Node (HVN) just below.

If the count is correct we should see price breakthrough in wave 3 after some consolidation and continue up after wave 2 tested the .618 Fibonacci retracement and HVN as support.

Heavy resistance HVN coupled with the R1 pivot at $20.40 will prove another challenge to overcome. Ultimately, if the count is correct AND Bitcoin doesn't tank we can expect a challenge of the all time highs up at $60.

I already closed partial take profit myself at the weekly pivot on a recent trade and will be looking to go long again to the those targets. Make sure to always be taking profits on the way as nobody has a Crystal ball!

RSI is currently printing a bearish divergence on the weekly so we need to see that negated.

Analysis is invalidated below $6.

Safe trading

Penafian

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