Bitcoin price analysis (Bullish) — 110004.82 USDT (+0.33% 24h)

Bitcoin continues to show impressive momentum, trading at $110,004 with a 0.33% gain over the past 24 hours. The current price sits comfortably above both the 20-day SMA ($109,820) and 50-day SMA ($109,363), indicating sustained bullish pressure. However, traders should note the RSI reading of 68.09 approaching overbought territory, suggesting potential near-term consolidation. The substantial $1.87 billion 24-hour trading volume confirms strong institutional interest, while the 2.19% volatility indicates relatively stable price action for Bitcoin standards. For traders, consider taking partial profits near the $112,000 resistance level while maintaining core positions. Support holds at $108,500 – a break below could signal short-term correction. The overall structure remains constructive for continued upward movement, though risk management becomes crucial at these elevated levels.