Bitcoin price analysis (Neutral) — 121784.30 USDT (-1.70% 24h)

Bitcoin is currently trading at $121,784, showing modest weakness with a 1.7% decline over the past 24 hours. The price sits just below the 20-day SMA at $122,008, indicating potential short-term resistance, while remaining well above the 50-day SMA at $123,523. The RSI reading of 56.69 suggests neither overbought nor oversold conditions, leaving room for movement in either direction. Trading volume remains robust at $2.75 billion, signaling continued institutional interest despite the minor pullback. The current volatility of 1.7% reflects typical market conditions for BTC. Traders should watch for a decisive break above the 20-day SMA as a potential bullish signal, while a failure to hold current levels could see a test of support around $120,000. Position sizing should remain conservative until clearer directional momentum emerges.