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Bitcoin traders celebrate ‘good news’ as BTC price trades above $57K

Bitcoin’s weekly close above a key support level is “good news” according to traders, and today’s rally to $57,500 could be a sign that the bottom is in.

Bitcoin (BTC) price edged above $57,500 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

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Bitcoin’s weekly close above a key support level is “good news” according to traders, and today’s rally to $57,500 could be a sign that the bottom is in.
Bitcoin (BTC) price edged above $57,500 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: TradingViewRead more  

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