Bitcoin price analysis (Neutral) — 112974.97 USDT (+0.18% 24h)

Bitcoin is currently trading at $112,974.97, showing modest strength with a 0.18% gain over the past 24 hours. The price is positioned interestingly between key moving averages – sitting just above the 20-day SMA ($112,598) but below the 50-day SMA ($113,866). This creates a potential inflection zone. The RSI at 58.18 suggests neither overbought nor oversold conditions, leaving room for movement in either direction. Trading volume remains healthy at $1.76 billion, indicating sustained market participation. The current volatility reading of 1.08% suggests relatively stable conditions for Bitcoin. Traders should watch for a decisive break above the 50-day SMA as a potential bullish signal, while a breakdown below the 20-day SMA could trigger short-term selling pressure. Consider scaling into positions with tight stop-losses given the compressed trading range.