Analysis of Bitcoin on Friday afternoon, May 23

Bitcoin has recently maintained a volatile pattern, continuing to consolidate around 111200 since last night, without forming an effective unilateral trend. The round number of 112000 constitutes a significant resistance level, and multiple attempts to test it have failed, requiring caution against the risk of a pullback after a rise. Currently, the support below has not been confirmed, and the price may first retrace to test the lower support before making another upward move. Overall, the bullish outlook is maintained, and it is recommended to focus on going long during pullbacks.

Bitcoin can be traded in the range of 110000-110300, targeting 111800.

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