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cryptonews 2025-03-29 16:42:33

Samson Mow Says Bitcoin Bear Trap: What’s Next at $82,516.97?

Bitcoin has slipped to $82,516.97, down 1.55% in 24 hours, triggering concerns of a deeper correction. But according to Samson Mow , this breakdown is a “bear trap”—a fakeout designed to flush out weak hands before a larger move higher. Mow remains firm on his $1 million BTC target, arguing the recent sell-off doesn’t reflect fundamentals. Bitcoin still holds a $1.64 trillion market cap, with 19.84 million BTC in circulation. Two words: bear trap. — Samson Mow (@Excellion) March 28, 2025 While Mow sees upside ahead, charts tell a different story. BTC has broken below a symmetrical triangle, with the former support at $83,650 now acting as resistance. Bitcoin Technical Setup Signals Caution The recent breakdown from the symmetrical triangle pattern has turned $83,650 into a key resistance zone, stalling any immediate rebound. A bearish engulfing candle under this level signals continued selling pressure. Current Price : $82,516.97 24H Volume : $19.93B Resistance Levels : $83,650, $85,231, $86,841 Support Levels : $82,000, $81,278, $79,990 50 EMA : $85,231 (above current price) RSI (14) : 27.63 (oversold) The RSI remains oversold, but without bullish divergence, offering no clear sign of reversal. A breakdown through the triple bottom around $83,000 further weakens the structure, placing $81,278 and $79,990 in view. Volume near current levels is also subdued, reflecting a lack of strong buyer support. What Comes Next for Bitcoin? The key question is whether this is the trap Mow describes, or the start of a broader correction. Broader sentiment is mixed, with macroeconomic pressure and tight liquidity weighing on high-risk assets. A confirmed reclaim of $83,650, followed by a breakout above the 50 EMA at $85,231, would be an early signal of bullish recovery. Otherwise, continued failure at current levels risks a slide below $80,000. Key Signals to Monitor: Break and close above $83,650 RSI divergence or recovery above 30 Trading volume increase on bounce attempts Support holding at $81,278 or $79,990 Until these conditions are met, Bitcoin remains vulnerable. Whether Samson Mow’s call plays out will depend on how markets respond in the days ahead. BTC Bull: Earn Bitcoin Rewards with the Hottest Crypto Presale BTC Bull ($BTCBULL) is making waves as a community-driven token that automatically rewards holders with real Bitcoin when BTC hits key price milestones. Unlike traditional meme tokens, BTCBULL is built for long-term investors, offering real incentives through airdropped BTC rewards and staking opportunities. Staking & Passive Income Opportunities BTC Bull offers a high-yield staking program with an impressive 119% APY, allowing users to generate passive income. The staking pool has already attracted 882.5 million BTCBULL tokens, highlighting strong community participation. Latest Presale Updates: Current Presale Price: $0.002425 per BTCBULL Total Raised: $4M / $4.5M target With demand surging, this presale provides an opportunity to acquire BTCBULL at early-stage pricing before the next price increase. The post Samson Mow Says Bitcoin Bear Trap: What’s Next at $82,516.97? appeared first on Cryptonews .