Bitcoin price analysis (Bullish) — 111635.96 USDT (+0.24% 24h)

Bitcoin continues to consolidate around the $111,600 level, showing modest 0.24% gains over the past 24 hours. The current price action finds BTC trading slightly above both its 20-day SMA ($111,560) and 50-day SMA ($111,246), indicating underlying strength in the medium-term trend. With RSI at 57.46, Bitcoin remains in neutral territory with room for upward movement before hitting overbought conditions. The 24-hour trading volume of $683 million suggests healthy participation, though the 2.28% volatility reading indicates relatively stable price action for the world’s largest cryptocurrency. Traders should watch for a decisive break above $112,000 for confirmation of continued bullish momentum, with support likely forming around the $111,200 level. Given the current technical setup, scaling into long positions on dips toward the 50-day SMA appears prudent, while maintaining tight stop-losses given the broader market uncertainty.