Bitcoin recovering

[STT]

The wider picture is we are in the area of december lows so I think this is the place where more challenging action will occur. 



Shorter term picture here, we see the sharp pin which shows resistance is in play apparently.   Yellow bar is a 33 day average which if we can pass and confirm above is some positive, however I just consider this price to be neutral at best.   Its gone sideways and it is staying above 2 day average for the moment which shows some positive energy still but as we move into the week we'll have pressure to perform or I expect some weakness or sell to occur as a test.

[TravelMug]

I think in the next 2 weeks will be critical for bitcoin. The daily RSI might indicate that we might see some buillshness and that it could happened in the next couple of days or weeks. However, the long term case for bitcoin remains very positive and we might say that the Covid-19 pandemic really made bitcoin more stronger than ever. So let's see if we could see a rally above $7k, which is the current resistance levels.

[btc78]

Of course it will depend on people to keep the ecosystem running. But as far as recovering, we really can't say what's going to happen next month as this will be critical for the markets around the globe. Do we have the initial vaccine that time? I'm sure everyone will react positively if World Health Organisations will report that a vaccine has discovered, otherwise we might see the price going to $3k-$4k prior to halving.

we have done 4k so i hope that's the bottom price.

Recovering?yeah because after falling that Low now we are seeing closing to 7k value as CMC recorded now.

https://coinmarketcap.com/

but prior to halving?we are 1 month before the event yet nothing seems very good so lets just Hope for Miracle that halving will give as Bull market even we are in this condition.

[KnightElite]

I think in the next 2 weeks will be critical for bitcoin. The daily RSI might indicate that we might see some buillshness and that it could happened in the next couple of days or weeks. However, the long term case for bitcoin remains very positive and we might say that the Covid-19 pandemic really made bitcoin more stronger than ever. So let's see if we could see a rally above $7k, which is the current resistance levels.

The daily rsi is now above the 50 area and for me it is considered as bullish, but there is a major resistance at around $7000. You can see that there are many wicks there and it indicates that the selling pressure is high and there is a big possibility that anytime that the price of the bitcoin reached that area, we can see strong bounce that can cause of the decline of the price of bitcoin.

[STT]

Looking pretty sunny right now, very optimistic outlook with a break past previous resistance and we approach 50 day average and its not even a month from the main sell.   However I dont believe in fairy tale endings so I expect a dragon to appear :p

[Smitty Werben Man Jensen]

had dropped to $ 3800, now Bitcoin is recovering at $ 7000, an increase of almost $ 5000 in a few days, but you must be careful, because the market is still very bad, corona virus is still not gone, I'm sure the price of Bitcoin will go down again before halving begins

[Free1bitco.in]

had dropped to $ 3800, now Bitcoin is recovering at $ 7000, an increase of almost $ 5000 in a few days, but you must be careful, because the market is still very bad, corona virus is still not gone, I'm sure the price of Bitcoin will go down again before halving begins

I hope this increase can last. I think the price is currently approaching $ 7,500. however, it is still too soon to be happy, because sometimes when the price of bitcoin reaches $ 7k, many people want to sell their assets and cause the price to drop to $ 6k again.

[michellee]

had dropped to $ 3800, now Bitcoin is recovering at $ 7000, an increase of almost $ 5000 in a few days, but you must be careful, because the market is still very bad, corona virus is still not gone, I'm sure the price of Bitcoin will go down again before halving begins

I hope this increase can last. I think the price is currently approaching $ 7,500. however, it is still too soon to be happy, because sometimes when the price of bitcoin reaches $ 7k, many people want to sell their assets and cause the price to drop to $ 6k again.

But I think we still far from $7,500 because the price now seems stable at $7,000-$7,100, but I don't know if, in the next hours, a massive order buy will be a queue in the market so that can make the price start to break the high price. If that happens, then this week, we will see another jump for the price, and who knows, the price will be at $7,200. This situation makes some people happy because they can sell some bitcoin and get the profit so they can wait for another dump. Yes, there is no guarantee that the price will be staying at a price now.

[stadus]

had dropped to $ 3800, now Bitcoin is recovering at $ 7000, an increase of almost $ 5000 in a few days, but you must be careful, because the market is still very bad, corona virus is still not gone, I'm sure the price of Bitcoin will go down again before halving begins

We need to get out the $7100 price and move higher so we can expect another run, if we failed to break the resistance then we will be having a problem, bitcoin will dump again or just swinging at a certain price range.

[Wexnident]

But I think we still far from $7,500 because the price now seems stable at $7,000-$7,100, but I don't know if, in the next hours, a massive order buy will be a queue in the market so that can make the price start to break the high price. If that happens, then this week, we will see another jump for the price, and who knows, the price will be at $7,200. This situation makes some people happy because they can sell some bitcoin and get the profit so they can wait for another dump. Yes, there is no guarantee that the price will be staying at a price now.

I highly doubt it would stay at the current price, nor would it increase. A rise of 4-5% is quite plentiful already, and the market would most probably correct that. Slowly the average price per day increases, but I doubt a huge rise that would disrupt that increase would happen. A decrease in price of up to $6.9k should be quite plausible, and well, another week of heart-wrenching ups and downs I suppose.

Of course it will depend on people to keep the ecosystem running. But as far as recovering, we really can't say what's going to happen next month as this will be critical for the markets around the globe. Do we have the initial vaccine that time? I'm sure everyone will react positively if World Health Organisations will report that a vaccine has discovered, otherwise we might see the price going to $3k-$4k prior to halving.

The vaccine is reported to take a few months before it can actually be developed. Initial testing has started already, but as what my words state, it's still at an initial phase. Still though, there's a chance for the price to recover successfully, and that is if every country, especially those at the top, are able to quarantine and lockdown the spread of the virus, only to those places that are already infected. BUT, if the virus were to somehow, evolve/mutate one way or another and actually find a way to spread different from what it has shown already, then that's another case of panic altogether. Well, we'll just hope that doesn't actually happen.

[snipie]

had dropped to $ 3800, now Bitcoin is recovering at $ 7000, an increase of almost $ 5000 in a few days, but you must be careful, because the market is still very bad, corona virus is still not gone, I'm sure the price of Bitcoin will go down again before halving begins

We need to get out the $7100 price and move higher so we can expect another run, if we failed to break the resistance then we will be having a problem, bitcoin will dump again or just swinging at a certain price range.

Having +$6000 price for a quite period is good, we need a stabilisation phase and why not every few days we see a +$250-500 rise. Obtaining a sustainable price +$8k before the halving is the best thing that could happen imo

[michellee]

But I think we still far from $7,500 because the price now seems stable at $7,000-$7,100, but I don't know if, in the next hours, a massive order buy will be a queue in the market so that can make the price start to break the high price. If that happens, then this week, we will see another jump for the price, and who knows, the price will be at $7,200. This situation makes some people happy because they can sell some bitcoin and get the profit so they can wait for another dump. Yes, there is no guarantee that the price will be staying at a price now.

I highly doubt it would stay at the current price, nor would it increase. A rise of 4-5% is quite plentiful already, and the market would most probably correct that. Slowly the average price per day increases, but I doubt a huge rise that would disrupt that increase would happen. A decrease in price of up to $6.9k should be quite plausible, and well, another week of heart-wrenching ups and downs I suppose.

We never know about that but bitcoin will have the possibility to increase still

But yes, I admitted that the bitcoin price already increased, and if this week, bitcoin price does not increase higher, then we might see a correction. I doubt that the increase in a high price will happen in short, but I will not deny if the price will increase for a small price. It makes sense if the price goes down at $6,900, and that is fine to see that price. So we can hope that if the price is down, the down will not go far below $6,900.

[Botnake]

Having +$6000 price for a quite period is good, we need a stabilisation phase and why not every few days we see a +$250-500 rise. Obtaining a sustainable price +$8k before the halving is the best thing that could happen imo

The market would be hype if bitcoin will reach at that level.
Bitcoin now has a great price increase, it reached $7000 again and we are again hoping it will still continue to rise, unlike recently that it dropped.

The halving is approaching, maybe we are really set to see a bullish market at this period, despite the fact the the world is in crisis.

[Reatim]

I think in the next 2 weeks will be critical for bitcoin. The daily RSI might indicate that we might see some buillshness and that it could happened in the next couple of days or weeks. However, the long term case for bitcoin remains very positive and we might say that the Covid-19 pandemic really made bitcoin more stronger than ever. So let's see if we could see a rally above $7k, which is the current resistance levels.

The daily rsi is now above the 50 area and for me it is considered as bullish, but there is a major resistance at around $7000. You can see that there are many wicks there and it indicates that the selling pressure is high and there is a big possibility that anytime that the price of the bitcoin reached that area, we can see strong bounce that can cause of the decline of the price of bitcoin.

well now we had already at 7k$ resistance so is this what we are waiting for?
is this the month awaited start of at least small bull?

had dropped to $ 3800, now Bitcoin is recovering at $ 7000, an increase of almost $ 5000 in a few days, but you must be careful, because the market is still very bad, corona virus is still not gone, I'm sure the price of Bitcoin will go down again before halving begins

what?increase of 5000$ in few days?lol from 3,800 to 7000 it is just 3,200 so what is 5000 increase there?

but at least we increased up to 40% and up from that 3,800 fall.

[Taskford]

Having +$6000 price for a quite period is good, we need a stabilisation phase and why not every few days we see a +$250-500 rise. Obtaining a sustainable price +$8k before the halving is the best thing that could happen imo

The market would be hype if bitcoin will reach at that level.
Bitcoin now has a great price increase, it reached $7000 again and we are again hoping it will still continue to rise, unlike recently that it dropped.

The halving is approaching, maybe we are really set to see a bullish market at this period, despite the fact the the world is in crisis.

It's a good sign that we are on good track even if the crisis still happening in the world but I'm still careful on what's happening these days since maybe we can see a fall since the market still not in good shape right now, and we should outsmart the market so that we can earn with the good flactuation happening these days.

[dunfida]

had dropped to $ 3800, now Bitcoin is recovering at $ 7000, an increase of almost $ 5000 in a few days, but you must be careful, because the market is still very bad, corona virus is still not gone, I'm sure the price of Bitcoin will go down again before halving begins

I hope this increase can last. I think the price is currently approaching $ 7,500. however, it is still too soon to be happy, because sometimes when the price of bitcoin reaches $ 7k, many people want to sell their assets and cause the price to drop to $ 6k again.

Specially for those people who do able to buy on 6k levels will surely short out for getting their profits.Its good to look at that the price is slowly climbing back to recovery
but i agree that we shouldnt be happy yet since price can dump once again unexpectedly.Dont know whats the cause of this increase but whats more important is that
we do know on how to deal with these waves to make money.For long term aspect then lucky for those who bought on the dip and still holding atm.

[South Park]

I will not consider it as recovering until it goes beyond 8k, these temporary pumps cannot be calculated as recovery. Right now the market is very volatile, the next two 2weeks will be the decider.

As halving is expected to be in May the price may similarly increase but still anything can happen because the current situation looks like it will be very hard to see a pump due to corona scare.

Right now the cryptocurrency market is showing an important recovery and the rest of the markets did the same today, however it will all depend on how the crisis keeps evolving, the US is now at the epicentre of the pandemic and if this continues whatever measures the government is taking will not be enough to curtail the huge economic effects that will come, and while bitcoin will eventually benefit long term from this crisis during the short term it will go down as people cash out to buy the stuff they need.

[FanEagle]

Do not forget that economical crisis haven't happened just yet, it just started but everything recovered like bitcoin, so we are still going to see a big drop in price for everything. Or maybe we won't but it feels like it is impossible for the whole world to stay at home and somehow all prices stay the same, there must be some sort of crisis due to people staying at home and not spending any money at all.

Hopefully nothing too severe or too bad but think about it, millions of people, probably hundreds of millions of people are all staying at home and we have to believe that market wasn't really affected by it? No matter what you do for stimulus, no easing, nothing should recover it this quickly, we SHOULD see some trouble eventually. I don't know when but I am still a bit scared of this good results.

[stadus]

Hopefully nothing too severe or too bad but think about it, millions of people, probably hundreds of millions of people are all staying at home and we have to believe that market wasn't really affected by it? No matter what you do for stimulus, no easing, nothing should recover it this quickly, we SHOULD see some trouble eventually. I don't know when but I am still a bit scared of this good results.

Well you should be scared because what we are seeing now might not last, the world is in trouble right now as major country are in crisis.
However, we can't also say that bitcoin will not grow as ever since it's been already so unpredictable, what majority think does not happen most of the time, so that is why bitcoin now is quite bullish, but no guarantee this will continue of course, let's just get ready or maybe learn how to do short term trading as we could take advantage on this situation.

[Hypnosis00]

The fact that the future of crypto relies upon us. It moves accordingly if we help to move it as well. If we all sell our bitcoin as the panic selling build-up, it is absolutely we can see that the market will dump to its worse more than what we experience last year. But somehow, many are still in the hold and not being hopeless despite the crisis that crosses us. Then, it is to agree that the only thing that can help its recovery is our fate and continuous support. Nothing more.