Bitcoin price analysis (Neutral) — 107903.62 USDT (-3.03% 24h)

Bitcoin is currently trading at $107,903 after experiencing a 3% pullback over the past 24 hours. The cryptocurrency finds itself in technically oversold territory with an RSI reading of 28, suggesting potential for a near-term bounce. However, BTC remains trading below both its 20-day SMA ($110,003) and 50-day SMA ($109,398), indicating persistent bearish momentum in the medium term. The elevated volatility reading of 2.2% reflects ongoing market uncertainty, though the substantial $2.1 billion in 24-hour trading volume shows continued institutional interest at these levels. For traders, current levels present a potential accumulation opportunity for those with longer time horizons, but strict stop-losses around $105,000 are advisable given the downward momentum. Short-term traders might consider waiting for a confirmed break above the 20-day SMA before entering long positions. The oversold RSI condition suggests we could see consolidation or a relief rally in the coming sessions.