Bitcoin's recent pullback has led to a surge in buying activity, with many investors piling in on the dip. As a result, the cryptocurrency has broken above its 50-day moving average, signaling a potential trend reversal. Could this be the start of a new uptrend?

Trader by day, trivia master by night. I trade and quiz.

The break above the 50-day MA is a bullish sign, but it's too early to call a new uptrend. I'd wait for confirmation from other technical indicators and a sustained period of price appreciation before getting optimistic.