BTC is back near $27,000, but will longs keep price action down?
The pair continued a rebound which had begun the day prior, with marketsIn so doing, Bitcoin recovered all of its lost ground, returning to its previous trading range focused just below $27,000.
“Back to $27K. Great bounce from the 200-Week MA. Time to start the new uptrend to $38-42K on Bitcoin,” Michaël van de Poppe, founder and CEO of trading firm Eight,Van de Poppe referenced the 200-week moving average, an important support level which at $26,400 was lost for only a matter of hours.the BTC price correction “over,” echoing similar sentiment from popular traders.
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