Bitcoin's recent price action suggests a potential bullish reversal is underway, as it has broken out of a descending triangle pattern and is now testing key resistance around $12,500. A decisive close above this level could pave the way for a return to $15,000, while a failure to hold could lead to a retest of the triangle's lower boundary.

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The technicals are aligning for a potential reversal, but it's crucial to see a close above $12,500 to confirm the breakout.