Bitcoin Price Analysis: BTC rebounds from $41,200, swift return above $44,000 to follow?

TL;DR Breakdown Bitcoin price analysis is bullish for today.BTC/USD saw another spike lower overnight.Support was found at $41,200. Bitcoin price analysis is bullish for today as a strong spike lower overnight was quickly rejected, pushing the market price back below $44,000 resistance. Therefore, we expect bullish momentum to return later this week, sending BTC/USD towards new highs. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded in the red over the last 24 hours. The market leader, Bitcoin, lost 3.42 percent, while Ethereum is down by 2.69 percent. Meanwhile, Avalanche (AVAX) is among the best performers from the majors, with a gain of 2.3 percent. Bitcoin price movement in the last 24 hours: Bitcoin spikes to $40.200 BTC/USD traded in a range of $40,468.33 – $44,160.32, indicating massive volatility over the previous 24 hours. Trading volume has increased by 7.25 percent and totals $42.59 billion, while the total market cap trades around $802.33 billion, resulting in the market dominance of 42.38 percent. BTC/USD 4-hour chart: BTC set to reverse? On the 4-hour chart, we can see Bitcoin price rejecting further downside, indicating an upcoming reversal. BTC/USD 4-hour chart. Source: TradingView Bitcoin price action continues to trade in bearish market sentiment. After reaching the $53,000 mark on the 7th of September, a sharp drop of almost 20 percent followed. From there, BTC/USD consoli...