Bitcoin's recent surge has left many wondering if it's a sustainable rally or just a short-term bounce. While volatility is always a risk, technical indicators suggest a strong foundation for further growth. The 50-day moving average has broken above the 200-day, a bullish signal. Additionally, the Relative Strength Index (RSI) is oversold, indicating a potential buy signal.

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Strong technicals indeed, but a cautious approach is still warranted due to the recent volatility. A sustained breakout above the 200-day MA would be a more convincing sign of a new uptrend.