Technically, BTC reached the upper trend line that was descending and pulled back to the 9499 level which was a previous high during the downtrend. This is a 4hr chart is based of of the GDAX exchange.
It is currently at the upper trend line which is a pivot point, it is either going to break out and up or head back down to another potential support level.
I've mentioned a few weeks ago that the last spike low was a V bottom for 2018. On many of the exchanges, it dipped below the 200 day moving average for a day which is has not been under for most of 2017/2018. The volume around the V bottom was also high, suggesting a capituation 'puke point' for sellers.
Also add in that BTC had the yearly lows in 2015, 16 and 17 in January. This year it was in Feb, the 6th to be exact.