Technical analysis by naphyse about Symbol BTC on 5/23/2025

#bitcoin price did well in May. It was spot buying with good volume, that was positive. I' ve been observing some issues on #btc chart. BTC has been moving in an ascending channel, breaking down these channels results with heavy correction. (As ETH broke a long time ascending channel and dumped heavily months ago) . Plus, There have been a bearish divergence whilst #btcusd moving upside for weeks. I showed the divergence on the chart. 113 - 114K is the very important resistance point for btc price. A hard declination there will result a heavy but healthy correction. Above 115K with weekly closes are the invalidation. Not financial advice.