$BTC confirmed a daily golden cross this week, with its 50-day moving average moving above the 200-day average - a pattern that could suggest the bear-market low is behind it.
Still, the signal needs more follow-through before traders can get too excited.
Kev Capital says bitcoin needs to establish stronger support above its two-day moving averages, currently in the $78,000 to $84,500 range.
Benjamin Cowen, meanwhile, cautioned that bitcoin could see a correction before any immediate rally takes hold.