Bitcoin price analysis (Neutral) — 110777.86 USDT (-2.22% 24h)

Bitcoin is showing signs of consolidation after recent weakness, trading at $110,777 with a modest 2.2% decline over the past 24 hours. The current price sits just below the 20-day SMA ($111,083) and significantly under the 50-day SMA ($112,674), indicating near-term bearish pressure. However, the RSI reading of 44 suggests we’re approaching oversold territory without being extreme, potentially setting up for a reversal. Trading volume remains robust at $2.85 billion, showing continued institutional interest despite the price dip. The volatility reading of 1.9% indicates relatively stable conditions compared to Bitcoin’s typical swings. For traders, this presents a potential accumulation opportunity – consider scaling into long positions between $109,000-$110,500 with stops below $108,000. Resistance awaits at the $112,000 level, while a break above $113,500 could signal renewed bullish momentum. Position sizing remains crucial given the ongoing market uncertainty.