Bitcoin price analysis (Bullish) — 110258.81 USDT (+2.11% 24h)

Bitcoin continues its impressive run, trading at $110,258 with a solid 2.11% gain over the past 24 hours. The current price sits comfortably above both the 20-day SMA ($108,332) and 50-day SMA ($108,850), indicating sustained bullish momentum. However, caution flags are waving as the RSI reading of 79.6 shows Bitcoin is deeply in overbought territory. While the elevated volatility of 2.65% suggests continued market enthusiasm, traders should be wary of potential pullbacks given the extreme RSI levels. The substantial $2.77 billion trading volume confirms strong institutional and retail participation, but smart money might be looking for profit-taking opportunities around these levels. For position traders, consider taking partial profits and setting stop-losses below $108,000. Swing traders might wait for a healthy correction to the $107,500-$108,500 support zone before entering new long positions.