Those bears who wanted the Bitcoin (BTC) price to dip below the $9,000 level didn't get their wish. According to trader Josh Rager, there has been an "official" bearish-to-bullish trend change.
The top coin has already printed a series of higher highs and lower lows on the daily chart.
The $9,100 flip was a game-changer
On Feb. 4, the Bitcoin (BTC) price dipped to as low as $9,062 on the Bitstamp exchange. With bears taking back control, it looked like another "China pump."
The following day made a significant difference for the bulls. A couple of solid green candles put them back in the driver's seat and allowed BTC to reach a new yearly high of $9,777.
Trader Jacob Canfield says that the $9,100 flip was "a big deal" for BTC since this level acted as support for the big descending triangle that eventually broke in September and the China-driven rally in late October.
$18,500 before halving?
While it might be crystal clear that BTC is an uptrend, the million-dollar question is high it might go. Based on the DeMark Sequential indicator, market analyst Thomas Thornton predicts more upside that will be followed by a "buyable pullback."
Meanwhile, crypto trader Michael van de Poppe still sees BTC reaching $18,500 before the halving event.
As reported by U.Today, Fundstrat's Tom Lee predicted that the BTC price could surge by nearly 200 percent during the next six months.
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