In a technical outlook shared on X, crypto analyst Leshka warned that Bitcoin is likely to close May in the red, pointing to a bear flag structure playing out on the daily chart.
Why Bitcoin Will Close May In Red
BTC’s May Record Faces A Major Test That historical strength is what makes this prediction more interesting. The problem is that the rally is now pressing into the exact resistance zone where the 200-day moving average is situated.
Previous red May closes have also appeared during difficult market phases, including a 35.4% decline in May 2021, a 15.9% decline in May 2022, and a 7.10% decline in May 2023. Leshka’s view is that 2026 could join that group if the current move fails at the top of the ascending channel.
