Bitcoin’s weekly close above a key support level is “good news” according to traders, and today’s rally to $56,500 could be a sign that the bottom is in.
Bitcoin (BTC) price edged above $56,600 on Sept. 9 as markets sprang back from an “exaggerated” reaction to August’s payroll report.
Data from Cointelegraph Markets Pro and TradingView showed Bitcoin price action recording gains roughly 8.3% above the week’s $52,546 lows.
BTC/USD daily chart. Source: TradingView
