Bitcoin (BTC) Price Prediction for May 23
The post Bitcoin (BTC) Price Prediction for May 23 appeared on BitcoinEthereumNews.com. Bitcoin price is consolidating near $111,100 after a strong rally from the $106,000 zone. Intraday indicators show slowing momentum, raising the risk of a short-term pullback. A breakout above $111,800 could fuel further Bitcoin price spikes toward $114,000. The Bitcoin price today is trading near $111,100 after briefly surging to a local high of $111,825. This recent breakout came on the back of strong bullish momentum that began building around the $106,000 consolidation zone. However, signs of hesitation have emerged near overhead resistance, as intraday candles show smaller bodies with upper wicks—hinting at possible near-term profit booking. What’s Happening With Bitcoin’s Price? The Bitcoin price action has entered a consolidation phase after a sustained upward push from the $102,000–$106,000 zone. The 4-hour chart shows BTC trading along the upper band of the Bollinger envelope, with candles struggling to close decisively above $111,800. This zone marks the first major Bitcoin price spike barrier after reclaiming $110K. Meanwhile, the 20, 50, and 100 EMAs are stacked in bullish alignment below price, with the 20-EMA offering immediate support near $107,300. The 200-EMA continues to track around $98,700, underscoring the longer-term bullish structure. The Bollinger Bands are widening on the 4-hour timeframe, signaling increased Bitcoin price volatility. The current pause above the mid-May breakout zone could be a breather before a renewed move. Will Bitcoin Price Go Down Today? The question of why Bitcoin price is going down today —albeit mildly— can be attributed to short-term exhaustion seen on lower timeframes. The 30-minute RSI has rolled over from the overbought 70+ zone and now reads around 64.7. This cooling off reflects waning bullish pressure as BTC tests the $111K handle without fresh volume. The MACD histogram, while still in positive territory, is starting to flatten, hinting at slowing upside momentum. The latest Bitcoin price…
The post Bitcoin (BTC) Price Prediction for May 23 appeared on BitcoinEthereumNews.com.
Bitcoin price is consolidating near $111,100 after a strong rally from the $106,000 zone. Intraday indicators show slowing momentum, raising the risk of a short-term pullback. A breakout above $111,800 could fuel further Bitcoin price spikes toward $114,000. The Bitcoin price today is trading near $111,100 after briefly surging to a local high of $111,825. This recent breakout came on the back of strong bullish momentum that began building around the $106,000 consolidation zone. However, signs of hesitation have emerged near overhead resistance, as intraday candles show smaller bodies with upper wicks—hinting at possible near-term profit booking. What’s Happening With Bitcoin’s Price? The Bitcoin price action has entered a consolidation phase after a sustained upward push from the $102,000–$106,000 zone. The 4-hour chart shows BTC trading along the upper band of the Bollinger envelope, with candles struggling to close decisively above $111,800. This zone marks the first major Bitcoin price spike barrier after reclaiming $110K. Meanwhile, the 20, 50, and 100 EMAs are stacked in bullish alignment below price, with the 20-EMA offering immediate support near $107,300. The 200-EMA continues to track around $98,700, underscoring the longer-term bullish structure. The Bollinger Bands are widening on the 4-hour timeframe, signaling increased Bitcoin price volatility. The current pause above the mid-May breakout zone could be a breather before a renewed move. Will Bitcoin Price Go Down Today? The question of why Bitcoin price is going down today —albeit mildly— can be attributed to short-term exhaustion seen on lower timeframes. The 30-minute RSI has rolled over from the overbought 70+ zone and now reads around 64.7. This cooling off reflects waning bullish pressure as BTC tests the $111K handle without fresh volume. The MACD histogram, while still in positive territory, is starting to flatten, hinting at slowing upside momentum. The latest Bitcoin price…
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