Why is Bitcoin price up today?

Bitcoin price is up today after BTC signaled a bullish technical setup across lower and higher time frames, pushing its value above the $82,000 level.

Bitcoin (BTC) is up 5% over the past 24 hours, as the cryptocurrency rallied from a new local low at $76,450 to a high of $83,786 on March 12.

On the weekly chart, BTC’s price retested its 50-weekly exponential moving average or 50W-EMA indicator (blue line) as support.

Bitcoin 1-week chart. Source: Cointelegraph/TradingView

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