Bitcoin Price Analysis: BTC fails to breach $48,000 again, set for a reversal to $42,000?

TL;DR Breakdown Bitcoin price analysis indicates bearish momentum to follow.BTC/USD failed to breach $48,000 yesterday.Bitcoin set a slightly lower low overnight. Bitcoin price analysis is bearish for today as the market lacks momentum to break through the $48,000 mark and has set a slightly lower low overnight. Therefore, we assume BTC/USD is headed lower next and could start a several-day retracement to the $42,000 previous significant high resistance. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market trades with mixed results over the last 24 hours. The market leader, Bitcoin, is up by 0.1 percent as bears slowly push it lower, while Ethereum is up by 0.59 percent. Solana (SOL) is among the best performers from the majors, with a gain of 11.7 percent. Bitcoin price movement in the last 24 hours: Bitcoin fails to reach the $48,000 resistance BTC/USD traded in a range of $45,384.27 – $47,139.57, indicating a small amount of volatility over the last 24 hours. Trading volume has increased by 1.78 percent and totals $32.8 billion. Meanwhile, the total market cap trades around $872 billion, resulting in a market dominance of 43.58 percent. BTC/USD 4-hour chart: set for a retracement to $42,000? On the 4-hour chart, we can see the Bitcoin price failing to reach further upside over the past days, indicating that bears are likely to take over the market later this week. BTC/USD 4-hour chart. Source: Tradin...