Bitcoin price analysis (Bullish) — 113991.29 USDT (+1.50% 24h)

Bitcoin is currently trading at $113,991, showing modest strength with a 1.5% gain over the past 24 hours. The price is hovering just above the 20-day SMA at $113,937, indicating near-term support, while remaining well above the 50-day SMA at $112,782, which reinforces a bullish medium-term structure. The RSI at 53.8 suggests neutral momentum with slight bullish bias, not yet overbought. Volume remains robust at $1.8 billion, supporting the current price action. Given the low volatility of 1.64%, we’re likely in a consolidation phase before the next significant move. Traders should consider accumulating on any dips toward the $113,000 support level, with stops below $112,500. A break above $115,000 could signal renewed upward momentum toward $118,000 resistance.