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Interest per year
According to cryptocurrency trader Josh Rager, the bulls have already left the Bitcoin (BTC) price downtrend behind them. The top cryptocurrency has finally recorded a higher high on its weekly chart.
Bitcoin bulls have a higher high
According to the Dow theory, any asset needs to print a new higher high in order to resume its uptrend. Bitcoin's failure to do that after its breakouts in August and October was the most compelling bear argument. However, it has recently been invalidated.
As reported by U.Today, Bitcoin touched its highest point since October on Feb. 9. BTC hasn't dipped below since this level since then with a strong weekly close above $10,170.
Expecting a 'healthy' pullback
However, not all traders are convinced that Bitcoin will have legs above $10,000. Horn Hairs recently tweeted that BTC might be close to the 'climax' of its bullish move.
He expects 'a healthy pullback' when BTC finally breaks its steepening trendline.
There is still a possibility that BTC could drop to as low as $2,000 based on the Elliott Wave theory.