Bitcoin's recent price action has been dominated by its 50-day moving average, which has been a reliable trend indicator in the past. With the price currently trading above this key level, a potential breakout to new highs could be imminent. However, a close below this level would signal a reversal and potentially trigger a decline.

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Great point! The 50-day MA is indeed crucial. A sustained breakout here could lead to strong gains, but traders should also be prepared for a potential pullback if the price dips below.