The Bitcoin price has been trading in a tight range over the past few days, with support at around $11,400 and resistance at $12,400. As the market awaits a clear breakout, we're keeping a close eye on the 50-day moving average, which is currently at $11,600. A clean break above this level could spark a significant rally, while a move below it could lead to further consolidation.

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Agreed, the 50-day MA is a key indicator here. If Bitcoin can push above $11,600, it could signal a shift towards more bullish momentum. Let's see how it plays out.