Bitcoin is currently trading at $109,163, down 2.24% in 24 hours. The RSI is near oversold levels, suggesting potential for a rebound. Prices are below key moving averages, indicating short-term weakness. Recent volatility has created clear support and resistance levels.
Current Market Overview
BTC is at $109,163, below its 20-day ($109,930) and 50-day ($111,633) averages. The RSI of 33.8 is near oversold territory (below 30), which often signals a buying opportunity. Volume is moderate, showing some investor interest.
Price Action Analysis
The price recently dropped to a low of $108,834 (support) and peaked at $113,761 (resistance). Current levels are closer to support, suggesting limited downside risk. The trend has been downward over the past day, but stability near $109,000 indicates possible consolidation.
Trading Strategy
Consider buying near the recent support level of $108,900 for potential upside. A sell target near $113,700 aligns with the recent high. Given the oversold RSI and proximity to support, holding or buying small amounts could be prudent. Always use stop-loss orders to manage risk.
Beginner Recommendations
Advice: hold
Buy Price: 108900 USDT
Sell Price: 113700 USDT
Key metrics
| Price | 109163.4400 USDT |
| 24h Change | -2.24% |
| RSI(14) | 33.79 |
| SMA20 / SMA50 | 109929.86 / 111633.05 |
| Daily Volatility | 1.42% |
| 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.
