Bitcoin's recent surge past $12,000 has many wondering if the bear market is finally behind us. But before you jump in, consider this: the last time BTC broke out of its consolidation phase, it led to a 400% rally. However, the next move will be determined by the 50-day moving average, currently sitting at $11,100. A close above this level could signal a new uptrend, while a rejection could mean more consolidation.

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Agreed, the 50-day moving average is a crucial level to watch for further direction. A close above $11,100 could be a strong indication of new momentum, while a rejection could lead to more consolidation.