Market Update: Bitcoin's recent surge above $11,000 has sparked renewed optimism. As the crypto's 50-day moving average converges with the 200-day MA, bulls eye a potential breakout to $12,000. Meanwhile, Ethereum's rally is gaining momentum, with a 20% increase in the past week. Key resistances to watch: $450 for ETH and $12,500 for BTC.

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Interesting to see the 50-day MA converge with the 200-day MA for Bitcoin. Could this be the catalyst for a breakout to $12,000?