Bitcoin is currently trading at $111,767 with strong upward momentum but showing signs of being overbought. The RSI above 77 suggests caution, though price remains above key moving averages. Recent price action shows a significant rally from support around $109,250 to resistance near $112,260.
Current Market Position
Bitcoin has gained 2.18% in the last 24 hours and is trading above both the 20-day and 50-day moving averages, which is generally positive. However, the RSI reading of 77 indicates the asset may be overbought and due for a pullback.
Support and Resistance Levels
Recent price history shows strong support around $109,250-$109,400, where Bitcoin bounced multiple times. The recent high of $112,260 acts as immediate resistance. The price has pulled back slightly from this level, suggesting it may need to consolidate before attempting another breakout.
Trading Strategy
Given the overbought conditions and recent pullback from highs, it’s better to wait for a dip to buy near support levels. If you already hold Bitcoin, consider taking some profits near resistance levels. Always use stop-loss orders to manage risk.
Beginner Recommendations
Advice: hold
Buy Price: 109400 USDT
Sell Price: 112000 USDT
Key metrics
| Price | 111767.4400 USDT |
| 24h Change | 2.18% |
| RSI(14) | 77.48 |
| SMA20 / SMA50 | 110903.20 / 110019.22 |
| Daily Volatility | 1.46% |
| 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.
