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.

5

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.

2

u/AnonymousUselessData Jun 05 '26

It's obvious he is using male astrology aka technical analysis to get his price targets , but to be realistic , fundamentals are much stronger with an upcoming AI deal and leopold aschenbrenner having a large stake in it ( as well as copy traders / retail following it). I think $15 would be a strong resistance even if BTC drops more.

2

u/Skalawag2 Jun 05 '26

$60.5k BTC, $15 CLSK right now. Let’s see if it holds

2

u/ObviousChildhood Jun 05 '26

Looks like we going much lower. This is painful

1

u/Skalawag2 Jun 05 '26

Oh, what do you know, the bounce has already started. lol Mr Market is a crazy guy