Sentiment: Bullish
Bitcoin continues its impressive rally, trading at $118,653 with a strong 3.85% gain over the past 24 hours. The current price sits comfortably above both the 20-day SMA ($117,860) and 50-day SMA ($115,630), indicating sustained bullish momentum. However, the RSI reading of 81.73 signals severely overbought conditions, suggesting a potential pullback or consolidation phase may be imminent. Trading volume remains robust at $2.57 billion, supporting the current price action. Given the extreme RSI levels, traders should consider taking partial profits on long positions and wait for a healthy retracement to establish new positions. Support levels to watch include the $117,000-$117,500 zone, while resistance appears around the $120,000 psychological level. Risk management remains crucial in these overextended conditions.
Key Metrics
| Price | 118653.7900 USDT |
| 24h Change | 3.85% |
| 24h Volume | 2570071272.12 |
| RSI(14) | 81.73 |
| SMA20 / SMA50 | 117860.54 / 115630.96 |
| Daily Volatility | 1.59% |
Bitcoin — 1h candles, 7D window (SMA20/SMA50, RSI).
