Bitcoin erases BTC price dip but $48.2K is now key to avoid bull trap
The bounce back above $48,000 is not a definitive sign that a correction is over, analysts warn. Bitcoin (BTC) quickly regained lost ground on Aug. 25 after a brief dip towards $47,000 failed to keep bulls down. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewRebound or bull trap?Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it returned to higher levels almost as quickly as it lost them earlier in the day.At the time of writing, the pair traded at near $48,700, having gained $1,500 in a matter of hours.Analysis had hinted at a rebound even as lower lows....
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Bitcoin price is on the rebound, but after such a sharp fall and more than 50% retracement, any reversal must be considered a potential bull trap until much higher prices are reclaimed. Further adding credence to the theory of a potential bull trap, a trend strength indicator very clearly shows that bears are in charge, […]
Newbie crypto traders should be wary of bull traps. If you suspect one is on the way, here are some tips to identify it. How to identify a bull trapHere’s how to spot a bull trap with some tell-tale indicators that one is on the way:RSI divergenceA high RSI might be an indication of a potential bull or bear trap.A relative strength index (RSI) calculation may be used to identify a possible bull or bear trap. The RSI is a technical indicator, which can help determine whether a stock or cryptocurrency asset is overbought, underbought or neither.The RSI follows this formula:The calculation....
Intended to convince market participants of a price correction, bear traps are orchestrated by entities with large holdings to make quick profits. How to identify and avoid a bear trap?As a difficult proposition for novice traders, a bear trap can be recognized by using charting tools available on most trading platforms and demands caution to be exercised.In most cases, identifying a bear trap requires the use of trading indicators and technical analysis tools such as RSI, Fibonacci levels, and volume indicators, and they are likely to confirm whether the trend reversal after a period of....
A crypto analyst has announced that Bitcoin (BTC) has hit its last bull trap, signaling that the price of the flagship cryptocurrency could fall much further before a potential reversal begins. The analyst has shared a chart highlighting key accumulation areas at levels below $60,000, the lowest price BTC has reached since its all-time high in 2025. Bitcoin Reaches Final Bull Trap Following Bitcoin’s rebound over the weekend, a pseudonymous whale and crypto analyst known as NoName shared an update on Bitcoin’s latest price action and what its next moves may be. In a post on X, NoName....
Bitcoin price hit $19,469 for the first time since December 2017, but there are crucial factors that might prevent BTC from hitting a new all-time high. The price of Bitcoin (BTC) hit $19,469 on Coinbase, reaching its highest point since its December 2017 peak. Although the dominant cryptocurrency is close to surpassing its record high, there are some warning signs to take note of.Three potential reasons Bitcoin faces the possibility of a pullback at $20,000 are a bull trap, overhead resistance and an overcrowded derivatives market.BTC/USD 15-minute chart. Source: TradingView.comA....