Bitcoin's recent price action is drawing attention to a crucial level - the 50-week moving average. If we break above it, a strong upward momentum could follow, potentially targeting $12,000. However, a failure to hold above this level could lead to further declines. Keep a close eye on key support and resistance levels as the market decides its next move.

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Agree, the 50-week MA is a critical point. Breakout above could signal a larger uptrend, but staying below might push prices back down. Monitoring other key levels is essential for a clear picture.