{"id":330198,"date":"2021-08-25T19:13:02","date_gmt":"2021-08-25T16:13:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-erases-btc-price-dip-but-48-2k-is-now-key-to-avoid-bull-trap\/"},"modified":"2021-08-25T19:13:02","modified_gmt":"2021-08-25T16:13:02","slug":"bitcoin-erases-btc-price-dip-but-48-2k-is-now-key-to-avoid-bull-trap","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-erases-btc-price-dip-but-48-2k-is-now-key-to-avoid-bull-trap\/","title":{"rendered":"# Bitcoin erases BTC price dip but $48.2K is now key to avoid bull trap"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4113ca5063e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4113ca5063e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-erases-btc-price-dip-but-48-2k-is-now-key-to-avoid-bull-trap\/#Rebound_or_bull_trap\" >Rebound or bull trap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-erases-btc-price-dip-but-48-2k-is-now-key-to-avoid-bull-trap\/#Zooming_out_removes_all_doubt\" >Zooming out removes all doubt<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin erases BTC price dip but $48.2K is now key to avoid bull trap <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) quickly regained lost ground on Aug. 25 after a brief dip towards $47,000 failed to keep bulls down. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/88f3d798-cc93-428f-a3b0-2e31ca14354b.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Rebound_or_bull_trap\"><\/span>Rebound or bull trap?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\">TradingView<\/a>\u00a0tracked BTC\/USD as it returned to higher levels almost as quickly as it lost them earlier in the day.<\/p>\n<p>At the time of writing, the pair traded at near $48,700, having gained $1,500 in a matter of hours.<\/p>\n<p>Analysis had hinted at a rebound even as lower lows continued to come on the hourly chart, these coming true as volume and relative strength index (RSI) performance improved.<\/p>\n<p>&#8220;Looking good so far,&#8221; trader Scott Melker, who originally noticed the RSI move, subsequently <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1430539015325986822\">added<\/a>.<\/p>\n<p>For trader and analyst Rekt Capital, however, there was no need to celebrate too soon. Bitcoin, he warned, needed to definitively reclaim levels above $48,000.<\/p>\n<p>&#8220;BTC is showing some small signs of recovery,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1430539016504594433\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers in comments on an accompanying chart. <\/p>\n<blockquote><p>&#8220;But if $BTC can&#8217;t reclaim the red area\/blue level soon then this recovery will have merely been a relief rally to turn previous support into new resistance.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/6672d47d-6c9b-472a-9a7a-b7d5fb32d2b5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day annotated candle chart (Coinbase). Source: Rekt Capital\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Zooming_out_removes_all_doubt\"><\/span>Zooming out removes all doubt<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Elsewhere, bullish sentiment remained firmly in place.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin bullish cross on weekly chart paints $225K BTC price target if history repeats<\/em><\/strong><\/p>\n<p>PlanB, the creator of the stock-to-flow family of Bitocin price models, reiterated that both the BTC\/USD 200-week moving average and Bitcoin&#8217;s realized cap were at all-time highs.<\/p>\n<p>&#8220;Nobody who bought bitcoin and hodled 4+ years (200 weeks) lost money, EVER!&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1430516656485326849\">tweeted<\/a> in an optimistic take alongside a chart showing the metrics.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/98507493-c48e-430c-bb8f-313d9de5e86e.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD chart with 200-week moving average and realized cap. Source: PlanB\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Bitcoin had never fallen below the 200-week moving average. Its delta price, which fellow analyst William Clemente <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1430529112213438474\">explained<\/a> is the difference between average cap and realized cap, has also never been violated and currently stands at $15,200.\u00a0<\/p>\n<p>Delta tends to act as definitive support, and is tested only during the pit of bear markets.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-erases-btc-price-dip-but-48-2k-is-now-key-to-avoid-bull-trap\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin erases BTC price dip but $48.2K is now key to avoid bull trap &#8221; 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: TradingView Rebound or bull trap? Data from Cointelegraph Markets Pro and TradingView\u00a0tracked BTC\/USD&#8230;<\/p>\n","protected":false},"author":1,"featured_media":330199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvY2M5OTM5YmYtOWJiMi00ZWU1LWExYTktM2EwNjVlMTY0NDI4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-330198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/330198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=330198"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/330198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/330199"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=330198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=330198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=330198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}