Cipher Mining (CIFR) has been losing momentum recently, which has coincided with continued weakness across Bitcoin and the broader crypto market. However, current price action suggests the stock may be nearing the end of an (A)(B)(C) corrective structure within a higher-degree wave four. Wave (C) appears to be forming a potential wedge pattern, often a precursor to a bullish reversal. This setup indicates that a rally could unfold into a fifth wave, particularly if price breaks back above the 16 level and later confirms strength above the 21 area. A sustained move higher in CIFR would likely signal renewed strength in crypto mining stocks, which could in turn provide support for the broader cryptocurrency market.
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