Bitcoin price analysis (Bullish) — 95813.53 USDT (-0.32% 24h)

Bitcoin is currently trading at $95,813, showing minimal 24-hour decline of just 0.32% despite significant trading volume exceeding $1.1 billion. The technical picture reveals interesting dynamics – BTC is trading slightly below both its 20-day SMA ($95,835) and 50-day SMA ($95,948), suggesting potential resistance overhead. However, the RSI reading of 41.8 indicates the asset is approaching oversold territory, which could present a buying opportunity for tactical traders. The current volatility of 2.55% suggests relatively stable price action compared to Bitcoin’s typical swings. For traders, this setup suggests cautious optimism – the proximity to key moving averages combined with oversold RSI conditions creates potential for a bounce. Consider accumulating on dips below $95,500 with tight stops, targeting resistance around $97,000. The high volume indicates institutional interest remains strong, providing underlying support.