{"id":348605,"date":"2021-10-05T16:25:00","date_gmt":"2021-10-05T13:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/50k-bitcoin-is-ultimate-bear-trap-says-analyst-as-btc-price-struggles-for-key-level\/"},"modified":"2021-10-05T16:25:00","modified_gmt":"2021-10-05T13:25:00","slug":"50k-bitcoin-is-ultimate-bear-trap-says-analyst-as-btc-price-struggles-for-key-level","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/50k-bitcoin-is-ultimate-bear-trap-says-analyst-as-btc-price-struggles-for-key-level\/","title":{"rendered":"# $50K Bitcoin is \u2018ultimate bear trap,\u2019 says analyst as BTC price struggles for key level"},"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-6a3a97686d3da\" 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-6a3a97686d3da\" 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\/50k-bitcoin-is-ultimate-bear-trap-says-analyst-as-btc-price-struggles-for-key-level\/#Analyst_predicts_more_suffering_for_Bitcoin_bears\" >Analyst predicts more suffering for Bitcoin bears<\/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\/50k-bitcoin-is-ultimate-bear-trap-says-analyst-as-btc-price-struggles-for-key-level\/#Bullishness_pervades_sentiment\" >Bullishness pervades sentiment<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># $50K Bitcoin is \u2018ultimate bear trap,\u2019 says analyst as BTC price struggles for key level <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) may be battling for $50,000, but its latest move could prove to be the \u201cultimate\u201d tool to make bears pay.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1445318146538283012\">tweet<\/a> on Oct. 5, popular trader and analyst Rekt Capital described the most recent BTC price action as the \u201cultimate bear trap.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_predicts_more_suffering_for_Bitcoin_bears\"><\/span>Analyst predicts more suffering for Bitcoin bears<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After reaching $50,000 for the first time in a month and going on to hit highs of $50,400, Bitcoin is once again the source of intense debate among market participants.<\/p>\n<p>Whether BTC\/USD can hold $50,000 \u2014 and how far it could fall if not \u2014 is the topic of the day as volatility continues.<\/p>\n<p>For Rekt Capital, however, it is longer timeframes that are worth paying more attention to. Specifically, the weekly chart for the pair has formed a head and shoulders pattern \u2014 something which traditionally hints at fresh downside to come.<\/p>\n<p>This time, based on the most recent strength, is likely different.<\/p>\n<p>\u201cLooks like that Weekly Head and Shoulders was the ultimate Bear Trap,\u201d he summarized to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/b5fbe5a2-a26a-4fa6-8828-07c4e30ec98f.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bullishness_pervades_sentiment\"><\/span>Bullishness pervades sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Should Bitcoin continue to climb out of its multi-week price range, the next major resistance levels lie closer to current all-time highs.<\/p>\n<p>As Cointelegraph reported, the outlook for both the rest of Q4 this year and 2022 is bullish for many, with expectations calling for a peak BTC price to hit in six months or later.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This is a great time to sell Bitcoin if you want to buy back higher!<\/p>\n<p>\u2014 Ryan  Cantering Clark (@CanteringClark) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CanteringClark\/status\/1445085717437325319?ref_src=twsrc%5Etfw\">October 4, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Sentiment, which just last week was in \u201cextreme fear,\u201d flipped back to \u201cgreed\u201d as $50,000 returned, according to the\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Crypto Fear &amp; Greed Index<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/fbc4ff18-55ec-4b85-ba1e-abf9dffb8866.png\"><figcaption style=\"text-align: center;\"><em>Crypto Fear &amp; Greed Index as of Oct. 5. Source: Alternative.me<\/em><\/figcaption><\/figure>\n<p>For altcoins, which have slowed despite Bitcoin\u2019s rise, pain may come first before a renaissance later on.<\/p>\n<p>\u201cALT\/USDT pairs looks good. ALT\/BTC pairs looks rough,\u201d trader Scott Melker <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1445165994066984969\">warned<\/a> Tuesday. <\/p>\n<blockquote><p>\u201cUsually means BTC is about to go up, dragging the ALT\/USDT pairs up a bit, but crushing them against BTC. Better off in BTC as a trader at those times. By no means certain, but likely scenario.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\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\/50k-bitcoin-is-ultimate-bear-trap-says-analyst-as-btc-price-struggles-for-key-level\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# $50K Bitcoin is \u2018ultimate bear trap,\u2019 says analyst as BTC price struggles for key level &#8221; Bitcoin (BTC) may be battling for $50,000, but its latest move could prove to be the \u201cultimate\u201d tool to make bears pay. In a tweet on Oct. 5, popular trader and analyst Rekt Capital described the most recent&#8230;<\/p>\n","protected":false},"author":1,"featured_media":348606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvNDU4MTIwMjktZmQ1YS00ZWQ2LTliZTktNDk0Y2UxMGQ3Yzg4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-348605","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\/348605","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=348605"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/348605\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/348606"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=348605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=348605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=348605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}