Bitcoin is currently trading at $115,427 with strong bullish momentum, up 3.46% in 24 hours. However, the RSI indicates overbought conditions at 74.5, suggesting potential for a pullback. The price is above both 20-day and 50-day moving averages, confirming the uptrend.
Current Market Position
BTC is trading above key moving averages ($114,208 for 20-day and $112,658 for 50-day), indicating strong bullish momentum. The 24-hour gain of 3.46% shows continued buying pressure.
RSI Warning Signal
The RSI reading of 74.5 is in overbought territory (above 70). This suggests the asset may be due for a short-term correction as buying pressure could be exhausted.
Support and Resistance Levels
Recent local lows around $111,260-$113,320 provide strong support zones. Resistance appears near recent highs around $113,700-$114,700. The current price is testing these resistance levels.
Trading Strategy
Given the overbought conditions, wait for a pullback to buy near support levels. Consider taking profits near resistance if you’re already holding positions. The strong uptrend suggests any dip could be a buying opportunity.
Beginner Recommendations
Advice: hold
Buy Price: 113320 USDT
Sell Price: 117000 USDT
Key metrics
| Price | 115426.9900 USDT |
| 24h Change | 3.46% |
| RSI(14) | 74.51 |
| SMA20 / SMA50 | 114207.78 / 112657.81 |
| Daily Volatility | 2.22% |
| Sentiment | Bullish |
| Risk level | Medium |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
