Bitcoin price analysis: BTC ready to retest the $49,000 range

TL;DR Breakdown Bitcoin price analysis reveals a bullish momentum building on the chart.Bitcoin price finds strong support at the $48,350 mark.Bitcoin to retest strong resistance if the current pattern completes. Bitcoin price analysis reveals that the king of cryptocurrency is now headed into another bullish momentum to retest the $49,000 range. At the time of writing BTC/USD price pair stands at the $48,598 mark. The strongest support is found at the $48,350 mark, while the strongest resistance is present at the $48,800 mark. Bitcoin price analysis: 24-hours candlestick shows bullish BTC momentum The 24-hours candlestick Bitcoin price analysis shows that the cryptocurrency is headed into a small cup and handle pattern at the time of writing. The momentum is slightly bearish, while the Relative Strength Index (RSI) is well within the normal range with a score of 66 points. BTC/USD 1-day candlestick chart. Source: Trading View The Bollinger bands are showing lower volatility than the previous month, which is also a good sign for the bulls to hold momentum. The upper Bollinger band value stands at the $50,937 mark, while the lower band value stands at the $39,363 mark. The Bollinger bands’ average is found at the $45,150 mark serving as the strong support, and the moving average also serves as strong support at the $47,013 mark, at the time of writing. BTC/USD price on 4 hours candlestick chart reconfirms retesting motion The ...