Bitcoin Price Analysis: BTC rapidly breaks $46,500, further upside to follow?

TL;DR Breakdown Bitcoin price analysis is bullish for today.BTC/USD broke past the $46,500 resistance.Bitcoin headed towards $48,000 next. Bitcoin price analysis is bullish today as the market broke past the $46,500 resistance and currently trades with a higher high of around $47,500. Therefore, we expect BTC/USD to continue higher today and look to reach further highs. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded with a slight gain over the last 24 hours. The market leader, Bitcoin, is up by 2.19 percent, while Ethereum is up by 2.02 percent. Polkadot (DOT) is the worst performer, with a loss of 7.15 percent. Bitcoin price movement in the last 24 hours: Bitcoin breaks past $46,500 resistance. BTC/USD traded in a range of $46,210.87 – $47,665.88, indicating strong volatility over the last 24 hours. Trading volume has decreased by 24.97 percent and totals $2.5 billion, while the total market cap trades around #839.7 billion. BTC/USD 4-hour chart: BTC looks to rally further? On the 4-hour chart, we can see the Bitcoin price continuing to rally today as bulls are yet to lose their momentum. BTC/USD 4-hour chart. Source: TradingView Bitcoin price action has seen strong volatility this month. After rallying to $53,000 on the 7th of September, a sharp reversal followed over the next 24 hours. BTC/USD lost almost 20 percent initially until it stabilized below $46,500. From there, several days o...