Technical analysis by Tonyong_Bayawak about Symbol BTC: Sell recommendation (5/8/2025)

At present, Bitcoin (BTC) is trading near the upper boundary of its recent price range, currently positioned at a relatively high peak. The market appears to be approaching a minor resistance level situated just above the current price. If the price action continues its upward momentum and touches this resistance, there is a strong likelihood that it will face selling pressure. This could result in a price reversal, potentially leading BTC to decline and retrace back down toward the most recent significant swing low, where previous support was established