Bitcoin Price Analysis: BTC rallies from $46,500, set to break $50,000 over the weekend?

TL;DR Breakdown Bitcoin price analysis is bullish for today.BTC/USD rallied over the past 24 hours.Bitcoin set another higher low at $46,500. Bitcoin price analysis is bullish today as the market has set a new higher low around $46,500 and has since started to rally back to the $50,000 major resistance. Therefore, we expect BTC/USD to break above the $50,000 mark later this weekend and look to reach the next target at $53,000 early next week. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded in the green over the last 24 hours, with Bitcoin leading the way up by 1.85 percent. Ethereum follows with an increase of 0.67 percent, while Solana is the best performer, with a gain of almost 13 percent. Bitcoin price movement in the last 24 hours: Bitcoin advances towards $50,000 BTC/USD traded in a range of $48,173.60 – $49,283.51, indicating low volatility over the last 24 hours. Trading volume totals $29.3 billion, down by 9.96 percent from yesterday. Meanwhile, the total market capitalization trades around $922.7 billion, resulting in market dominance of 43.83 percent. BTC/USD 4-hour chart: BTC set to break $50,000 next? On the 4-hour chart, Bitcoin price is rapidly approaching the $50,000 mark as bulls have finally gathered momentum for further upside. BTC/USD 4-hour chart. Source: TradingView Bitcoin price action has traded with a strong bullish momentum over the past month. From the $29,500 maj...