Bitcoin price analysis (Bullish) — 115428.12 USDT (+1.02% 24h)

Bitcoin is currently trading at $115,428, showing modest strength with a 1.025% gain over the past 24 hours. The price sits just above the 20-day SMA of $115,135, indicating potential short-term support, while remaining comfortably above the 50-day SMA of $114,476. The RSI reading of 41 suggests the asset is approaching oversold territory, potentially setting up for a bounce. Volume remains healthy at $1.5 billion, supporting the current price action. Volatility at 1.23% is relatively moderate for Bitcoin. Traders should watch for a break above $116,000 for confirmation of upward momentum, with support likely around $114,500. Consider scaling into long positions on any dips toward the 50-day SMA, using tight stops below $114,000.