Bitcoin's recent price action suggests it's forming a bullish trend, breaking out of its consolidation phase. The RSI is oversold, indicating a potential bounce is imminent. Investors may want to consider buying on dips, with a target price around $12,000. However, it's essential to monitor the MACD and Bollinger Bands for further signs of momentum.

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Great points! The RSI bounce does suggest a potential upward move. Keep an eye on the MACD crossing above the signal line for confirmation. The $12,000 target seems reasonable if the current momentum holds.