Bitcoin Price Analysis: BTC swiftly approaches $48,000, breakout to follow?

TL;DR Breakdown Bitcoin price analysis is bullish today.Bitcoin rallied overnight.BTC/USD is set to break the $48,000 resistance. Bitcoin price analysis is bullish for today as the market price approached the $48,000 resistance over the past hours after retesting $44,000 support yesterday. Therefore, we expect BTC/USD to finally break above the $48,000 resistance and move towards the $50,000 next major target. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded with strong bullish momentum as the market leader, Bitcoin, rallied by 5.48 percent. Meanwhile, Ethereum is up by 7.21 percent, and Cardano is the best performer, with a gain of 22 percent. Bitcoin price movement in the last 24 hours: Bitcoin rallies from the $44,000 support BTC/USD traded in a range of $45,442.83 – $47,794.21, indicating substantial volatility over the last 24 hours. Trading volume has increased by 9.67 percent and totals $35 billion, while the total market capitalization trades around $897 billion, resulting in the market dominance of 43.46 percent. BTC/USD 4-hour chart: BTC set to break $48,000 resistance? On the 4-hour chart, we can see the Bitcoin price action approaching the $48,000 previous swing high as bulls attempt to finally break higher. BTC/USD 4-hour chart. Source: TradingView Bitcoin price action has traded with a strong bullish momentum over the past month. After establishing a major swing low above $29,5...