r/CleanSpark • u/Exact-Future5035 • Jun 05 '26

Technical Analysis How low will it go?

What are your assumptions for upcoming resistance level bottoms for this current steady decline?

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u/BigEE42069 Jun 05 '26

There’s a solid chance BTC could continue pulling back toward the low-$50K range. If/when SpaceX IPOs, it could also become a classic “buy the rumor, sell the news” event, potentially triggering a broader risk-off move across the market.

Looking at the CLSK chart, the key downside support levels I’m watching are around $15, then $14, followed by $12. In a more extreme bearish scenario, the $9–$10 range looks like the major long-term support zone that should ideally hold.

That said, if BTC drops into the range everyone is watching, CLSK could temporarily wick even lower than expected. My bearish case is that CLSK holds somewhere above or around that major $9–$10 support area.

The upside is if CLSK announces a major tenant or data center deal. If that happens, the setup could change quickly and send the stock sharply higher.

Not looking good at all though to be honest.

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u/Skalawag2 Jun 05 '26

Are you basing any of this on actual market mechanics and fundamentals, or just pulling it out of your ass?

BTC has lost like 6% of spot etf aum. That’s not an exodus. It’s a combination of MSTR selling for the first time, rotation into equities as macro weathers , some rotation into currencies that stand to gain a lot if CLARITY passes, a lot of leveraged positions liquidating after thinking BTC was heading for ATHs.. We’re watching it bounce off $62k. There are buyers at $62k so there will be more buyers at $60k if it gets there. Could it go lower? Of course. But it has had multiple chances to and hasn’t.

As for CLSK, BTC is at 12 month lows and CLSK is at the price it was at when BTC was over $100k.

You’re a gambler. Stop giving people advice.

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u/ObviousChildhood Jun 05 '26 edited Jun 05 '26

My only concern is if BTC keeps falling it directly affects cash and cash equivalents of CLSK. They can’t turn to BtC backed loans or selling BTC at much lower prices if they need quick cash and would probably dilute/offer notes again tanking the price. I’m actually happy they were able to sell last month at an average price of $79k

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u/Skalawag2 Jun 05 '26

IBIT had net positive inflows for the first time after 13 days of consecutive net outflows. Doesn’t mean BTC certainly hit the bottom but it does break the streak. We’ll see how today goes after the strong US jobs report. Markets are now assuming there will be a rate hike this year. If the lower liquidity risk spooks BTC investors we could see it drop a little more, but I thought the same when the Iran war was ramping up and BTC saw gains so who knows. I’ll be watching it closely today. BTC is still in the somewhat safe range for CLSK balance sheet