Bitcoin Price Analysis: BTC moves back above $50,000, ready for new highs?

TL;DR Breakdown Bitcoin price analysis is bullish for today.BTC/USD continued to consolidate around $50,000 yesterday.BTC is ready to break higher. Bitcoin price analysis is bullish today as the market has returned above the $50,000 mark after consolidation over the last 24 hours. Therefore, we expect BTC/USD to continue higher later today and to reach the next target at $53,000. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded with mixed results over the last 24 hours. The market leader, Bitcoin, is up by 0.85 percent and has returned above $50,000, while Ethereum is up by 0.69. Meanwhile, Filecoin (FIL) is among the best performers, with a gain of 22 percent. Bitcoin price movement in the last 24 hours: Bitcoin consolidated around $50,000 BTC/USD traded in a range of $49,538.60 – $50,459.79, indicating low volatility over the last 24 hours. Trading volume has decreased by 19.37 percent and totals $30.86 billion, while the total market cap trades around $949.2 billion, resulting in market dominance of 41.26 percent. BTC/USD 4-hour chart: BTC set to rally today? On the 4-hour chart, Bitcoin price action has returned above $50,000 as bulls make another attempt at breaking higher. BTC/USD 4-hour chart. Source: TradingView Bitcoin price action has seen strong bullish momentum over the past weeks. After setting a new major swing low at $29,500, Bitcoin started to rally and has so far reached a g...