Bitcoin is currently trading at $112,768, down 2.6% in 24 hours. The RSI of 22 indicates oversold conditions, suggesting a potential buying opportunity. Recent price action shows support around $115,000 levels with resistance near $116,000.
Current Market Situation
Bitcoin has declined to $112,768, trading below both the 20-day ($114,991) and 50-day ($115,444) moving averages. The RSI reading of 22 is well below 30, indicating oversold conditions that often precede price rebounds.
Support and Resistance Levels
Recent local lows around $115,226 provide strong support, while resistance sits near $116,028. The current price below these levels suggests potential for a bounce back toward support-turned-resistance areas.
Trading Strategy
Consider buying near recent support levels around $115,200 for a potential bounce toward $116,000. The oversold RSI and proximity to key support make this an attractive entry point for short-term traders.
Risk Management
Set stop-loss orders below $114,000 to protect against further downside. The high volume during the recent decline suggests strong selling pressure, so manage position sizes carefully.
Beginner Recommendations
Advice: buy
Buy Price: 115200 USDT
Sell Price: 116000 USDT
Key metrics
| Price | 112768.0000 USDT |
| 24h Change | -2.61% |
| RSI(14) | 22.00 |
| SMA20 / SMA50 | 114990.95 / 115444.35 |
| Daily Volatility | 1.09% |
| Sentiment | Bullish |
| Risk level | Medium |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
