Bitcoin price analysis: BTC to retest $50,000

TL;DR Breakdown Bitcoin price analysis reveals that the cryptocurrency is ready to retest $50,000 high.Support is currently found at the $49,200 mark.Resistance is currently found at the $49,550 mark. Bitcoin price analysis reveals that the king of cryptocurrency has now gathered enough support to retest the $50,000 high. At the time of writing, Bitcoin price has risen up to the $49,500 mark in a flash rise from the $49,200 range. The king of cryptocurrency is trading 0.37 percent in gains in the past 24-hours and over one percent in gains during the past seven days. BTC/USD 1-day price chart reveals newly found support levels The 1-day Bitcoin price analysis candlestick chart reveals that the volatility is decreasing compared to the past week, and the king has found some good support. The upper Bollinger band limit is found at the $50,868 level, serving as the strongest resistance at the time of writing. Whereas the lower Bollinger band is found at the $43,932 mark, serving as the strongest support point at the time of writing. The nine-day moving average (SMA 9) and the Bollinger bands’ average are serving as good support points at $48,771 and $47,400 marks, respectively. BTC/USD 1-day candlestick price chart. Source: Trading View The relative strength index (RSI) is currently hovering near the 60s with a score of 62.17, which is well below the overbought zone and providing a cushion for buyers to push the price above...