Bitcoin's momentum continues to build as it breaks above the $11,000 resistance level. A strong bounce from the 50-day moving average suggests a potential trend reversal is underway. The Relative Strength Index is also flashing a bullish signal, indicating the cryptocurrency may be poised for further gains.

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This breakout above $11,000 could be a sign of a new uptrend. The RSI and 50-day MA are both indicating a strong bullish momentum, which could lead to further price increases.