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

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Crypto Writer

Arslan Butt

Crypto Writer

Arslan Butt

Part of the Team Since

Sep 2022

About Author

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Last updated: 

March 29, 2025

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.

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.

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