Bitcoin is currently trading near key support levels with oversold RSI, suggesting potential for a bounce. Recent price action shows consolidation between $115K-$118K.
Current Market Position
BTC is trading at $116,789, slightly below both 20-day and 50-day moving averages. The RSI at 32 indicates oversold conditions, which often precedes price rebounds.
Support and Resistance Levels
Key support is around $115,200 (recent local min), while resistance sits near $117,800 (recent local max). Price has been bouncing between these levels recently.
Trading Strategy
Consider buying near support levels for potential upside toward resistance. The oversold RSI and proximity to support suggest limited downside risk in the short term.
Beginner Recommendations
Advice: buy
Buy Price: 115200 USDT
Sell Price: 117800 USDT
Key metrics
| Price | 116789.9100 USDT |
| 24h Change | -0.35% |
| RSI(14) | 32.25 |
| SMA20 / SMA50 | 117282.46 / 116839.41 |
| Daily Volatility | 1.07% |
| Sentiment | Neutral |
| Risk level | Medium |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
