Bitcoin price analysis (Bullish) — 122430.27 USDT (+2.10% 24h)

Bitcoin continues to show resilience above the $122,000 level, posting a solid 2.1% gain over the past 24 hours with substantial trading volume exceeding $2.86 billion. The current price sits comfortably above both the 20-day SMA ($122,057) and 50-day SMA ($120,690), indicating underlying strength in the medium-term trend. With RSI at 57.15, Bitcoin remains in healthy territory – neither overbought nor oversold – suggesting room for further upside. The moderate volatility reading of 1.42% reflects controlled price action rather than speculative frenzy. Traders should watch for a sustained break above $123,000 to confirm the next leg higher, with support holding firm at the $120,000 psychological level. Position sizing remains crucial given Bitcoin’s inherent volatility, though the technical setup favors cautious longs with tight stop-losses below $119,500.