In a surprising move, Bitcoin (BTC) bulls have returned in a move straight out of left field. After wallowing in between $7,500 and $7,800 for a number of days, buyers recently pushed the cryptocurrency back up to $8,000 — or just shy of this auspicious level anyway. Most didn’t expect such a bounce, but it has been welcomed by a number of analysts, many of which hope that BTC will soon resume its uptrend.
While this move seems innocuous enough, one analyst is suggesting that this validates a bullish fractal, implying that Bitcoin could rally in the coming days. Analyst Filb Filb believes that the inverse of Bitcoin’s current price action is looking much like it did during December’s bottom, especially from the viewpoint of BTC’s four-hour chart.