Bitcoin’s strong rally puts it in a “good position” where the 200-MA and $65,000 level could potentially serve as a new level of support.
Bitcoin (BTC) price rallied to $65,851 on Sept. 26 as markets responded to global macroeconomic events, placing BTC in a ‘good position,’ according to traders.
BTC/USD daily chart. Source: TradingView
The strong reversal in Bitcoin’s price direction has many traders wondering what to expect next from BTC going forward.
