Bitcoin Price Analysis Highlights Bullish Momentum with Stable Trading Range

Currently, Bitcoin trading against USDT is at approximately $118,871, reflecting a positive 24-hour price increase of 1.85%. The day's high reached nearly $119,114, while the low was around $116,436, indicating moderate volatility within this range.

This recent upward movement suggests strong short-term bullish momentum, especially with trading volume exceeding $495 million, pointing to solid market interest and liquidity. The price action within the daily high and low supports the idea of a potentially resilient trend, although traders should remain cautious about sudden volatility.

Given the current trend and volume, the market sentiment appears bullish, possibly driven by positive news or market optimism. However, the relatively narrow trading range compared to the recent volatility hints at a consolidation phase before the next significant move. Investors should monitor volume and price breakouts for confirmation of continued bullish momentum.