Bitcoin price analysis (Bullish) — 109645.46 USDT (-1.01% 24h)

Bitcoin is currently trading at $109,645 with a modest 1% pullback over the past 24 hours, suggesting a healthy consolidation phase after recent gains. The current price sits comfortably above the 20-day SMA at $108,448, indicating near-term bullish momentum remains intact. However, traders should note the RSI reading of 66.7 is approaching overbought territory, which could signal potential resistance ahead. The 24-hour trading volume of $2.68 billion shows sustained institutional interest, while volatility remains manageable at 2.09%. The key technical level to watch is the 50-day SMA at $110,217 – a decisive break above this resistance could trigger another leg higher. For trading strategy, consider scaling into long positions on dips toward $108,000 support with tight stop-losses below $107,500. Profit-taking around $112,000-$113,000 seems prudent given the elevated RSI reading.