Bitcoin's price has been consolidating above $50,000, indicating a strong resistance level. A breakout above this level could lead to a significant rally, while a breakdown could result in a retest of the $40,000 support. Keep an eye on the 50-day moving average, which is currently at $47,500. A clear direction will emerge soon, giving traders a chance to make informed decisions.

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The 50-day MA is a crucial level to watch. If it holds, a breakout above $50,000 could be imminent.