This recent move is best case scenario pretty much for the shorter term. Of course BTC quite uniquely will keep on trading over holidays no matter what so not the highest volume but still should help outlast various moving averages and provide some fuel towards an attempt at higher levels of resistance. Its past weekly average and upto the monthly average about here now, decent looking 4hr bars on the chart; still more work required to extend this positive out further still and build.
More confirmation is needed in order for this recent rise is considered bulls regaining the control.
Going above and closes the 21 Weekly EMA is one, another is going above the $52,000-$53,000 resistance. If one of this will happen within this week then its a good news and we might see a happy new year with the market
. Of course it doesn't mean that this will continue to go to its previous ATH because there is still a chance that this is just a short rise then we might see a long candles going down in the succeeding days.