Bitcoin price analysis (Bullish) — 116015.17 USDT (+3.92% 24h)

Bitcoin continues its impressive rally, trading at $116,015 with a strong 3.92% gain over the past 24 hours. The current price sits comfortably above both the 20-day SMA ($114,376) and 50-day SMA ($112,763), indicating sustained bullish momentum. However, caution flags are raised by the RSI reading of 80.45, which places BTC in severely overbought territory. This extreme reading suggests a potential pullback or consolidation phase may be imminent. The substantial $2.08 billion in 24-hour trading volume confirms strong institutional and retail participation, while the 2.22% volatility indicates relatively controlled price movements despite the upward trajectory. Traders should consider taking partial profits at these levels and setting stop-loss orders below $114,000. For those looking to enter, waiting for a healthy retracement toward the $114,500 support level would provide better risk-reward opportunities. The overall trend remains positive, but prudent position sizing is advised given the overextended technical conditions.