⚡️ CleanSpark’s Surge

Last night, “America’s Bitcoin Miner,” CleanSpark, shocked the Street with a Q1 earnings beat. 

The company unexpectedly posted a profit as revenues grew 165% YoY, and its current hash rate eclipsed 12.5 EH/s (exahashes per second).

CleanSpark CEO, Zach Bradford commented on the impressive results, 

“Our eyes are set on harnessing our momentum to further accelerate our growth and continue delivering unmatched value to our stakeholders as we work to execute on our commitment of 20 exahashes per second in the first half of this year.”

Prior to its earnings beat, CleanSpark announced it acquired two new bitcoin mining facilities in Mississippi and Georgia in an effort to increase its hash rate to 20EH/s.

$CLSK surged to its best day since May 5th, 2020, and closed at its highest price since December 2021. 

Here’s a chart shared on Stocktwits by Thelonius_Stonk. He writes

“Massive move on most daily volume in its history tagged the downtrend line from Jan ’21 and will print highest weekly close since Nov ’21. Impressive. Whether it takes time to get through this key level is yet to be seen.”

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Technically Speaking – March 8, 2024

I’ll keep the details short and simple here because time is running out, and if I’m not done on time for pizza night with the kids, my wife will be very mad. 🍕

I almost wrote she’d kill me, but if I did that, there’d probably be a SWAT team and an army of social workers making sure I’m ok.

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One Way To Use Stocktwits’ Social Data Tools

Have you ever heard the phrase ‘volume precedes price’? It’s an old-school technical analysis 101 maxim. For example, if an instrument is in a downtrend but then you start to see volume tick up, the theory is that price will follow the volume. 🧑‍🎓

It’s what technical analysts call a leading indicator—a heads-up or a warning that the probability of change is high and that it might happen soon. Analysts and traders might apply that principle (volume precedes price) to the Stocktwits Social Data. 

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Seriously, SHIB People, Are You Ok?

Look at the 1-minute chart below from yesterday’s intraday price action on $SHIB. 🤯

It was one of the craziest swings of all the major market cap memecoins by far, just an insane move. And how did the Stocktwits SHIB stream react? Like you’d expect any high class degen to react: Unf*cking fazed.

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