Bitcoin Price Analysis: BTC swiftly spikes to $52,000, set to move higher today?

TL;DR Breakdown Bitcoin price analysis is bullish for today.BTC/USD saw a strong rally above $50,000 overnight.Bitcoin is likely to reach $53,000 today. Bitcoin price analysis is bullish for today as the market has built up momentum over the last hours after a strong advance overnight to the $52,000 mark. Therefore, we expect BTC/USD to continue higher and reach the $53,000 mark next. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded with a bullish momentum over the last 24 hours. Bitcoin is up by 2.8 percent, while Ethereum has gained 0.58 percent. Meanwhile, Solana (SOL) is the best performer, with a gain of 9 percent. Bitcoin price movement in the last 24 hours: Bitcoin rallies away from $50,000 support BTC/USD traded in a range of $50,132.05 – $52,119.79, indicating strong volatility over the last 24 hours. Trading volume has increased by 19.74 percent and totals $36.86 billion. Meanwhile, the total market cap trades around $971 billion, resulting in market dominance of 41.39 percent. BTC/USD 4-hour chart: BTC targets $53,000 next? On the 4-hour chart, Bitcoin price action can be seen to prepare for the next move higher with a slight retracement over the last hours. BTC/USD 4-hour chart. Source: TradingView Bitcoin price has rallied by more than 75 percent over the last weeks after a new major swing low was set at $29,500 on the 20th of July. From there, BTC/USD set series of higher highs...