Bitcoin Daily Price Action (Source: TradingView)
$BTC lost the 0.618 Fib at $79,249 and the ascending channel from the April lows. The 20 EMA at $78,274, 50 EMA at $76,802, and 100 EMA at $76,886 are all converging near current price, making the $76,800 to $78,300 range a ceiling rather than a floor. Every bounce attempt into that zone faces immediate selling pressure from three overlapping EMAs.
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Above that, the 200 EMA at $81,637 and 0.705 Fib at $81,958 are the macro resistance levels that rejected $BTC in early May. Below current price, the 0.5 Fib at $75,574 is the first support, followed by three FVG zones stacking between $67,500 and $72,500.
$BTC Key levels for May 23:
Resistance: $78,274 (20 EMA), $81,637 (200 EMA), $81,958 (0.705 Fib)
Support: $75,574 (0.5 Fib), $71,898 (0.382 Fib), $67,500 to $72,500 FVG cluster