Falling back lower than $49,500 would cause problems, traders say, while any impulse move has the potential to hit $58,000.

Bitcoin (cryptoprimacy.com/bitcoin-price”>BTC) could jump to $58,000 or dive to $44,000 from its current levels, an analyst warns as $50,000 sees a “very healthy retest.”

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Hedging bets against a “swift downwards move”

Data from cryptoprimacy.com/?via=markets&_ga=2.121254216.1571181373.1628517932-1136475544.1627545224″>Cointelegraph Markets Pro and TradingView showed BTC/USD fluctuating around the $51,000 mark on Tuesday after cryptoprimacy.com/news/bitcoin-suddenly-retests-50k-in-possible-shakeout-as-analysts-stay-bullish-on-btc” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cryptoprimacy.com/news/bitcoin-suddenly-retests-50k-in-possible-shakeout-as-analysts-stay-bullish-on-btc/amp”>losing $2,000 in two hours earlier in the day.

Overnight, the pair hit fresh highs of cryptoprimacy.com/news/btc-price-further-crushes-resistance-nears-53k-on-el-salvador-bitcoin-day” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cryptoprimacy.com/news/btc-price-further-crushes-resistance-nears-53k-on-el-salvador-bitcoin-day/amp”>nearly $53,000, coinciding with bullish momentum on the back of El Salvador becoming the first sovereign state to officially adopt Bitcoin as a currency.

Now, $50,000 is once again a deal-breaker for bulls and bears alike, says Cointelegraph contributor Michaël van de Poppe.

Specifically, Bitcoin needs to hold the area between $49,500 and $50,000 in order to preserve its trajectory.

“If that is holding, we’re going to look at $58,000 next,” he said in his latest YouTube update.

“If it doesn’t hold, I’m going to look at $44,000 next, as there might be a swift downwards move.”

Van de Poppe added that there was no reason for concern at levels above $50,000, regardless of Tuesday’s volatility, which he argued constitutes a “very healthy” move after the breakout.

“Retest is now in progress,” fellow trader and analyst Rekt Captial echoed, highlighting a “key” area to hold at around $50,300. Pentoshi also called for a $50,000 retention.

Ether lines up BTC support test

Meanwhile, altcoins continue to lick their wounds after outdoing Bitcoin at losing recently-gained levels.

Related: cryptoprimacy.com/news/price-analysis-9-6-btc-eth-ada-bnb-xrp-sol-doge-dot-uni-link” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cryptoprimacy.com/news/price-analysis-9-6-btc-eth-ada-bnb-xrp-sol-doge-dot-uni-link/amp”>Price analysis 9/6: BTC, ETH, ADA, BNB, XRP, SOL, DOGE, DOT, UNI, LINK

Out of the top 10 cryptocurrencies by market capitalization, Solana (SOL) remained the cryptoprimacy.com/news/sol-price-nears-200-after-ftx-s-solana-enabled-nft-marketplace-goes-live” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cryptoprimacy.com/news/sol-price-nears-200-after-ftx-s-solana-enabled-nft-marketplace-goes-live/amp”>sole green performer on the day, in sharp contrast to other tokens.

Ether (cryptoprimacy.com/ethereum-price”>ETH) could be in line for a retest of $3,400 if $3,700 is lost, van de Poppe said about the largest altcoin. Against BTC, it could likewise retest the recently reclaimed 0.071 level.

ETH/BTC 1-day candle chart (Bitstamp). Source: TradingView

Cardano (cryptoprimacy.com/ada-price-index”>ADA) saw a modest recovery after falling to $2.58, still down 6.7% on the day at the time of writing and 15% versus its cryptoprimacy.com/news/ada-price-hits-3-for-the-first-time-as-cardano-ethereum-lead-crypto-super-bull-cycle” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cryptoprimacy.com/news/ada-price-hits-3-for-the-first-time-as-cardano-ethereum-lead-crypto-super-bull-cycle/amp”>recent all-time highs.