Bitcoin price holds 200-day trend line as trader predicts low is in
BTC price action is all about the 200-day moving average into the monthly close, with opinions on the outlook increasingly polarized. Bitcoin (BTC) is retaining this week’s gains, with some trader s doubling down on their bullish BTC price bets. BTC/USD 1-hour chart with 200-day EMA. Source: TradingView Trader: Bitcoin price may have bottomed A key moving average is buoying low-timeframe BTC price action, which continues to preserve $27,000, data from Cointelegraph Markets Pro and TradingView shows. Bitcoin may have retraced from its local highs above $28,000, but bears have not yet sparked a full retrace of the move. For some, this is increasingly positive news, as BTC/USD is now successfully holding a long-term trend line lost as support earlier in August. This comes in the form of the 200-day exponential moving average (EMA), currently at $27,180. Some hourly candles closing below into Aug. 31 were not enough to spark a more significant breakdown, and Bitcoin is tightly hugging...