Bitcoin price analysis (Bullish) — 111298.55 USDT (+4.23% 24h)

Bitcoin continues its impressive rally, surging past $111,000 with strong 4.23% gains over the past 24 hours. The current price sits comfortably above both the 20-day SMA ($109,154) and 50-day SMA ($107,865), indicating sustained bullish momentum. However, the RSI reading of 69.15 suggests we’re approaching overbought territory, which could trigger short-term profit-taking. Trading volume remains robust at $2.18 billion, supporting the current price action, while volatility remains manageable at 2.24%. For traders, consider taking partial profits near resistance levels while maintaining core positions. New entries might wait for a pullback toward the $109,000 support zone. Keep stop-losses tight around $108,500 to protect gains. The overall structure remains constructive, but caution is warranted given the extended RSI reading.