Bitcoin price analysis (Bullish) — 107471.43 USDT (-2.88% 24h)

Bitcoin is showing clear signs of capitulation as it trades at $107,471, down nearly 3% in 24 hours. The most striking metric is the RSI reading of 18.27, indicating severely oversold conditions not seen since major market bottoms. Price currently sits below both the 20-day SMA ($109,503) and 50-day SMA ($109,973), confirming the bearish momentum. However, the extreme RSI levels suggest we’re approaching a potential reversal zone. Trading volume remains robust at $1.6 billion, showing continued institutional interest despite the price decline. For traders, this presents a classic contrarian opportunity – consider scaling into long positions with tight stop losses below $105,000. The current volatility of 2.19% provides decent entry windows for both swing traders and accumulation strategies. Risk management remains crucial given the technical breakdown, but historical data shows RSI readings this low often precede significant bounces.