Bitcoin (BTC) Price Prediction for May 23

Cryptocurrency Volatility Persists as Bears Tighten Grip

The cryptocurrency market has shifted momentum, with Bitcoin (BTC) dropping 0.88% over the past 24 hours, according to CoinStats. The hourly BTC chart indicates a consolidation phase, with price action narrowing and reduced potential for major short-term moves.

On higher timeframes, bulls have failed to sustain the upward momentum from the previous trading session. Bitcoin's current price remains distant from critical support and resistance zones.

• Short-term projections suggest sideways trading between $105,000 and $110,000
• Medium-term focus centers on the weekly candle close relative to $109,356 - a clean close above this level could signal trend continuation and potential new highs

As of this writing, Bitcoin trades at $109,192, underscoring persistent market volatility.