Bitcoin Price Analysis: BTC retests $46,500, ready to break $50,000 next?

TL;DR Breakdown Bitcoin price analysis is bullish today.BTC/USD retested the $46,500 support overnight.Bitcoin set for another rally. Bitcoin price analysis is bullish for today as the market found support at the $46,500 support overnight, indicating an upcoming reversal. Therefore, we expect BTC/USD to reverse later today and start heading to the $50,000 resistance again later this week. Cryptocurrency heat map. Source: Coin360 The overall market traded in the green over the last 24 hours, with the market leader, Bitcoin, up by 0.06 percent. Meanwhile, Ethereum is among the best performers, with a gain of 5.12 percent, with the rest of the top altcoin following. Bitcoin price movement in the last 24 hours: Bitcoin retests previous support at $46,500 BTC/USD traded in a range of $46,562.44 – $47,848.84, indicating mild volatility over the last 24 hours. Trading volume has increased by 9.92 percent and totals $37.27 billion, while the total market capitalization trades around $890 billion, resulting in the market dominance of 41.79 percent. BTC/USD 4-hour chart: BTC set to break above the $50,000 resistance next? On the 4-hour chart, we can see the Bitcoin price retesting $46,500 support, which should lead towards a reversal over the next 24 hours. BTC/USD 4-hour chart. Source: TradingView Bitcoin price action has seen a strong advance over the past month. After finding support at $29,500 on the 20th of July, BTC/USD...