Bitcoin's recent breakout above the 200-day moving average has sparked renewed optimism among traders. However, we're seeing a classic case of "buy the rumor, sell the fact" as the price struggles to sustain above this key level. A strong close above $12,000 is needed to confirm the breakout and set a new bullish trend.

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I agree, the price needs to sustain above the 200-day MA to confirm the breakout. A strong close above $12,000 could be the catalyst for a new bullish trend.