Bitcoin price analysis (Bullish) — 112611.37 USDT (-0.32% 24h)

Bitcoin is currently trading at $112,611, showing slight consolidation after a minor 0.32% pullback over 24 hours. The price remains above both the 20-day SMA ($112,322) and 50-day SMA ($112,530), indicating underlying strength despite short-term pressure. With an RSI of 60.21, BTC is approaching overbought territory but still has room for upward movement before hitting extreme levels. The $112,500 level appears to be acting as a key support zone, while resistance sits around $114,000 based on recent price action. Trading volume remains healthy at $1.5 billion, suggesting sustained institutional interest. Traders should consider buying dips toward $112,000 with stops below $111,500, targeting $115,000 for partial profits. The low volatility environment presents opportunities for range trading strategies, though breakout potential remains if Bitcoin can decisively clear $114,000 resistance. Monitor broader market sentiment and ETF flows for directional cues.