Bitcoin (BTC) stayed tantalizingly close to $fifty,000 on Tuesday equally bulls contended with a classic resistance level.

BTC/USD i-60 minutes candle nautical chart (Bitstamp). Source: TradingView

As well tardily for "clay cheap" Bitcoin?

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD holding necessary back up levels for bullish continuation through Tuesday.

The pair had dipped to within the $48,000 range over the past 24 hours before exiting to the upside, with $49,000 now the level in line for retests.

For trader and analyst Rekt Capital, current behavior had enough of historical context — Bitcoin's first trip above $50,000 in February had as well involved a focus on the $48,000–$49,000 expanse.

"BTC is however retesting this surface area in an uptrend, simply like it did on those ii occasions before this twelvemonth," he commented alongside a nautical chart.

BTC/USD annotated nautical chart. Source: Rekt Upper-case letter/Twitter

While Bitcoin's failure to hold $50,000 straightaway this time around had disappointed some, some analysts were clear that the "bargain" BTC buy levels had already come up and gone.

"You had 3 months to accrue dirt cheap BTC. Fundamentals only strengthened," William Clemente III argued.

"The market place does not owe you whatever pullbacks right now."

Cardano leaves major altcoins in the dust

Middling action on Bitcoin, meanwhile, transferred to near altcoins on the day, with but Cardano (ADA) being a noticeable exception to the dominion.

Related: Bitcoin bullish cross on weekly chart paints $225K BTC cost target if history repeats

Ether (ETH), Binance Coin (BNB) and XRP were all but stationary over the past 24 hours as the markets waited for fresh directional cues.

As Cointelegraph reported, the upcoming Federal Reserve Jackson Hole summit — tipped to provide information on coronavirus policy — could well be that sentiment mover in the coming days.