Bitcoin price analysis (Bullish) — 117102.44 USDT (-0.11% 24h)

Bitcoin is currently trading at $117,102, showing a slight 24-hour decline of -0.107% but maintaining a strong position above both the 20-day SMA ($116,354) and 50-day SMA ($116,310). The RSI reading of 71.96 indicates overbought conditions, suggesting potential for a short-term pullback. However, the high 24-hour volume of over $2 billion demonstrates robust market participation and underlying strength. Volatility remains moderate at 1.13%, providing decent trading opportunities. Traders should consider taking partial profits near current levels while maintaining core positions, with key support at the $116,300 SMA confluence. A break above $118,000 could trigger another leg higher, but watch for RSI divergence signals.