Bitcoin (BTC) quickly regained lost ground on Aug. 25 later a brief dip towards $47,000 failed to go on bulls down.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Rebound or balderdash trap?

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it returned to higher levels almost equally quickly as it lost them earlier in the day.

At the time of writing, the pair traded at near $48,700, having gained $one,500 in a matter of hours.

Analysis had hinted at a rebound even equally lower lows continued to come up on the hourly chart, these coming truthful as volume and relative strength index (RSI) performance improved.

"Looking skilful so far," trader Scott Melker, who originally noticed the RSI motility, after added.

For trader and analyst Rekt Majuscule, all the same, at that place was no need to gloat too soon. Bitcoin, he warned, needed to definitively reclaim levels above $48,000.

"BTC is showing some small signs of recovery," he told Twitter followers in comments on an accompanying chart.

"But if $BTC can't reclaim the cherry area/blue level soon then this recovery volition have but been a relief rally to plow previous support into new resistance."
BTC/USD 1-day annotated candle chart (Coinbase). Source: Rekt Upper-case letter/ Twitter

Zooming out removes all dubiousness

Elsewhere, bullish sentiment remained firmly in identify.

Related: Bitcoin bullish cross on weekly chart paints $225K BTC price target if history repeats

PlanB, the creator of the stock-to-menses family of Bitocin cost models, reiterated that both the BTC/USD 200-calendar week moving average and Bitcoin'south realized cap were at all-fourth dimension highs.

"Nobody who bought bitcoin and hodled 4+ years (200 weeks) lost money, EVER!" he tweeted in an optimistic accept alongside a chart showing the metrics.

BTC/USD nautical chart with 200-week moving average and realized cap. Source: PlanB/ Twitter

Bitcoin had never fallen beneath the 200-calendar week moving average. Its delta toll, which swain analyst William Clemente explained is the deviation between average cap and realized cap, has besides never been violated and currently stands at $15,200.

Delta tends to act as definitive support, and is tested merely during the pit of bear markets.