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…
The post Bitcoin (BTC) Price Prediction for May 23: Will Bulls Reclaim Momentum Above $111K? appeared first on Coin Edition.
