Bitcoin price analysis (Bullish) — 116118.83 USDT (+0.33% 24h)

Bitcoin is currently trading at $116,118.83, showing modest strength with a 0.33% gain over the past 24 hours. The price remains above both the 20-day SMA ($115,644) and 50-day SMA ($115,759), indicating underlying bullish momentum. The RSI at 57.6 suggests the asset is neither overbought nor oversold, leaving room for potential upward movement. Trading volume of $978 million is healthy, supporting the current price action. Volatility remains moderate at 1.23%, typical for BTC in consolidation phases. Given the technical setup, I recommend maintaining long positions with a stop-loss below $115,500. Traders might consider adding to positions on any dip toward the SMA support levels, targeting resistance around $118,000. Keep monitoring volume trends for confirmation of breakout moves.