Technical analysis by ScottMelker about Symbol BTC: Sell recommendation (5/20/2025)

We now have a confirmed bearish divergence on the daily chart. Price printed a higher high while RSI made a lower high and rolled over out of overbought territory – a classic warning signal.This divergence has been brewing across multiple time frames, and now we’re seeing it confirmed on the daily. The recent push to new highs came on low volume over the weekend, and the follow-through has been weak. In fact, price dropped immediately after the highest daily and weekly close in Bitcoin’s history – not the reaction bulls were hoping for.The trend is still intact for now, but this is a textbook spot to proceed with caution. Bearish divergences don’t always play out immediately, but they often mark local tops or at least short-term consolidation.If $106,000 fails to hold as support, we could be looking at a return to the $99,500 area.