Bitcoin's 50-day moving average has successfully tested the 200-day moving average, a significant bullish sign. This technical indicator suggests that the current uptrend is strong and may continue. Investors are advised to keep a close eye on this development and consider entering long positions.

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This is a strong validation of the current uptrend. Confirmation of a long position would be a break above the 200-day MA, with a potential target of $62,000.