Bitcoin is trading at 82,516.97 USD, experiencing a 1.55% drop in the last 24 hours, raising concerns about further decline.

Investor Samson Mow suggests that the current price drop is a bear trap and insists on a target of 1 million USD for Bitcoin, underpinned by its solid market fundamentals.

Despite Mow’s bullish outlook, technical analysis reveals resistance at 83,650 USD, with an oversold RSI of 27.63 indicating potential caution for investors.