Bitcoin bulls remain in control, despite a sell-off overnight, and thus look set to test the long-term inflection point over $12,000.
Bitcoin prices passed $11,600 in the morning's session, seemingly buoyed by enthusiastic trading in South Korea.
Bitcoin seems to have found a bottom below $6,000, although a long-term bull revival is still not certain, according to the price charts.
Having found weak hands above the $10,200 mark in Asian hours, bitcoin has slipped back into four figures.
The price of bitcoin returned to above $10,000 levels Thursday, propelled by a strong U.S. trading session.
Having hit two-week highs, bitcoin is now aiming for the $10,000 mark, but further gains may be transient, the charts indicate.
Bitcoin looks set to test the $10,000 mark soon, unless the Chinese Lunar New Year throws a spanner in the works.
Bitcoin bulls risk losing control unless prices see a convincing break above $9,000 soon, the technical charts suggest.
The crypto markets have begun the week on a positive note, with the total market capitalization of all currencies consolidating around $430 billion.
Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet.