$IREN seems to be finding its footing here. Been watching it carve out this tight wedge formation—the kind that usually precedes something interesting.

Eyes on $48 as the key level. Break above that? We might see momentum pick up fast. That's where price would clear the descending trendline, basically confirming the pattern's playing out as expected.

Target sitting at $74.15 if this setup delivers. The consolidation's been brutal, steep angle and all, but that's often how bottoms get built. Patience might pay off on this one.

Wedge patterns can be tricky though—they compress price until something's gotta give. Right now IREN's coiling up. The breakout confirmation above $48 would be the green light for position builders.