Bitcoin price holds 200-day trend line as trader predicts low is in

Bitcoin (BTC) is retaining this weeks gains, with some traders doubling down on their bullish BTC cost bets.BTC/ USD 1-hour chart with 200-day EMA. Source: TradingViewTrader: Bitcoin cost may have bottomedA key moving average is buoying low-timeframe BTC rate action, which continues to protect $27,000, information from Cointelegraph Markets Pro and TradingView shows.Bitcoin may have backtracked from its regional highs above $28,000, but bears have not yet sparked a full retrace of the move.For some, this is significantly favorable news, as BTC/USD is now effectively holding a long-lasting pattern line lost as support previously in August.This comes in the type of the 200-day exponential moving average (EMA), currently at $27,180. Some per hour candle lights closing below into Aug. 31 were not adequate to trigger a more considerable breakdown, and Bitcoin is securely hugging the 200-day EMA into the August monthly close.