Canaan Inc (CAN) announced that it will acquire a 49% stake in Cipher Mining (CIFR) owned by ABC Projects (Alborz LLC, Bear LLC, Chief Mountain LLC) by issuing 806.4 million Class A common shares (equivalent to 53.8 million American Depositary Receipts). The transaction amount is $39.75 million, and the shares are subject to a six‑month lock‑up period. (CoinDesk)
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$CAN
$CAN Daily Candle Chart
Thats your THIRD touch
Stop crying 😭
This guy just handed all his gains back on a silver platter.
Classic bag holder move 🤣🤣
The chart read is incomplete. $CAN isn’t in a “full bearish alignment” — it’s in a low-volume accumulation range.
Price has been moving sideways between $0.87–$1.03, which is classic post-capitulation basing, not institutional selling. Distribution requires surging volume and breakdown candles — none of which are present. The flattening volatility, thin Ichimoku cloud, and neutral OBV all point to absorption, not rejection.
Calling it a downtrend across all timeframes ignores the fundamental catalysts now stacking beneath the chart:
• Frost & Sullivan ranks Canaan #2 globally in ASIC compute power
• Q3 revenue beat expectations with strong YoY growth
• New partnerships: SynVista Energy (green compute + AI load balancing) and SLNH hosting
• Expanding footprint: Canada, Japan, Ethiopia, North America
• Zero meaningful short interest + 106 institutional holders
• Active share-buyback program
• Industry shift toward efficient ASIC compute (AI + BTC heat-reuse + clean-power mining)
These are not the signals of
