Bitcoin on a recovery mode

[Fredomago]

I agree with you, the truth is that this type of analysis shown in Cointelegraph is focused on the short term, at any moment it changes, from what I have realized when reading so many short-term technical analysis articles, is that the BTC in these Moements is with a trading level between $ 42k to $ 45k, I think that when the bulls start to push the price up eliminating the offer we will be back at the psychological price level of $ 50k, this will trigger events that for me is difficult to predict .

Seems to me that the pressure to keep the value down is indeed stronger traders are not rushing things up knowing that there are still possibilities to see deeper dumped from bag holders.

It's hard to analyse if you are just depend on the charts as there are other things that influenced the market, for those who are unsure most might already sell into panic preventing much deeper damage from their investment.

Strong hand though is just holding and if chance, adding more assets inside their wallet, knowing that it will bounce back and it will provide good benefits.

[Hippocrypto]

Following the sharp sell-off on Tuesday where the bitcoin price drops with a 10% negative movement which sees the price of Bitcoin from above 52,000 to 46,000, which is a 10% sharp dropped, the entire crypto market has suffered from the crash in price. But as of Thursday afternoon, the bitcoin market has shown some sign of recovery where the price is heading to 47k the highest since the crash.

We saw that attempt, but at current scenario Bitcoin goes down again and took until $41700 lately, which is very difficult to tell whether recovery comes or not. All we have to do right now is to wait and monitor the ongoing fluctuations of the btc market. Also for eth, it went down after both pairings dumped so fast in less than 24 hours. However, this made me realize that those investors waited for cheaper value would probably take this as an opportunity to purchase additional holdings.

[Ngemmeng]

recovery is slower than I expected. My estimate after experiencing a fairly sharp price decline from $52k to $46k the price of bitcoin could quickly return to the price of $50k, but in fact the price of bitcoin tends to be stable in the price range of $47k - $48k. looks like $50k remains a tough resistance line to break so far.

For unknown reasons, bitcoin is still struggling under $50k levels. Probably whales are completely manipulating the going market right now for their own benefits or who knows those institutions might be selling off to catch more lower price levels to enter back in more volume. Yeah, currently bitcoin must be struggling even it is in recovery mode unlike what we have seen in the past.

I'm not ready to agree that the resistance around $50k is still holding on. Because, when people are already experienced  ATH above $64k levels then definitely most traders and investors might have cancelled their profit booking orders around $50k levels still we are facing significant resistance around $50k levels which means some unexpected selling off is going on for undisclosed reasons.

$50k is indeed a price point that is difficult for bitcoin to break, several times trying to penetrate that point but bitcoin always fails. bitcoin once reached $52k but it didn't last long because after that bitcoin price dropped quite deep to $46k price. I think if bitcoin really can get past that point it will trigger a very drastic price growth because it can increase investor interest in buying.

[junmisakiro]

Following the sharp sell-off on Tuesday where the bitcoin price drops with a 10% negative movement which sees the price of Bitcoin from above 52,000 to 46,000, which is a 10% sharp dropped, the entire crypto market has suffered from the crash in price. But as of Thursday afternoon, the bitcoin market has shown some sign of recovery where the price is heading to 47k the highest since the crash.

After a decrease in the price of bitcoin due to a sell-off by investors, bitcoin had tried to rise again to the price of $50k but bitcoin could only stay at the price of $48k even though it only lasted temporarily, but after that there was a decline with bitcoin to the price of $40k because it was caused by the FUD issued by the Chinese state so it will be a little difficult for bitcoin to bounce back to the price of $52k in the near future.

[Fakhrulenclix]

until now the price of Bitcoin continues to decline, I see September is not a good month for Bitcoin which in previous years also experienced such bad things. However, if you look at what has happened in the past year, the price correction in September will be the opposite in November or December. I think once this passes we will see the bull market come back.

[Turbolinea]

It doesn't seem very likely to recover these days. China has released another FUD over the market. The government has banned cryptocurrencies and it doesn't affect the market in a good way now of course. The demand will decrease a lot after Chinese people will be obliged to let go of their cryptocurrencies. There have been so many cryptocurrency investors there and I hope that this action doesn't cause Bitcoin price to struggle for even a longer time.

[MrcMrc]

There has been strong resistance in the recovery process of Bitcoin as recently Bitcoin tried severally to break the 45k price and that has not been possible after several attempts. I will rather wait to see what this month of October will be for Bitcoin.

[Kemarit]

There has been strong resistance in the recovery process of Bitcoin as recently Bitcoin tried severally to break the 45k price and that has not been possible after several attempts. I will rather wait to see what this month of October will be for Bitcoin.

That's why is it called resistance, but no worries, sooner or later it will be broken. Last month the biggest barrier is $48,000, several attempts have been made, (x3 if I'm not mistaken), before we suddenly punch it and stay on that price and then goes to $52,000, new higher highs after the last all time high of $64,000

So still possible to break into that $45,000 resistance and then hopefully we can go to $50,000 this month. September, which is one of the worst month for Bitcoin is already over, let's look forward for October to be a good recovery month.

[palle11]

There has been strong resistance in the recovery process of Bitcoin as recently Bitcoin tried severally to break the 45k price and that has not been possible after several attempts. I will rather wait to see what this month of October will be for Bitcoin.

In 2017 following from that year's significant bull run, bitcoin had that kind of strength that added to the ATH of that year around December. This year's October especially with speculation of this year ending being good for bitcoin may start from this month. Today as 1st of October has bitcoin price appreciating to $43,000 and either $45,000 can be reached within the week.

[onecall123]

October has arrived, and the Bitcoin market seems to be pulling back. Therefore, October probably spikes, it's a good idea to pull your profits, so that you'll have money to buy a crazy dip if there's a problem. We'll be here to trade Bitcoins and other cryptocurrencies. Taking profits by some companies is probably the cause of the dip, but that's it. However, a long-term effect would probably be better. Trade carefully, nobody is safe now.

[Woodie]

Is this what a new month can bring...if these are the results let everyday be a new month  ? On a serious note I like how the month of October has turned this to be a recovery month and hope we can see $60k in it as well but just a reality check the month alone isn't enough alone what are the real reasons for markets being bullish all over sudden. Did Elon tweet about something good about crypto or some regulation around the world has given a breath of hope...

[bitterguy28]

Following the sharp sell-off on Tuesday where the bitcoin price drops with a 10% negative movement which sees the price of Bitcoin from above 52,000 to 46,000, which is a 10% sharp dropped, the entire crypto market has suffered from the crash in price. But as of Thursday afternoon, the bitcoin market has shown some sign of recovery where the price is heading to 47k the highest since the crash.

it is once again recovering now , from 41k now climb back to 47k in which looks like the start of another bull run as we approached now the last quarter of the year and this is the decision moment .
last year October also the start of the run in which continues till second quarter of this year, so now either October to December but at least we are aiming to break that 64k recorded value of Bitcoina s it stands the ATH .

October has arrived, and the Bitcoin market seems to be pulling back. Therefore, October probably spikes, it's a good idea to pull your profits, so that you'll have money to buy a crazy dip if there's a problem. We'll be here to trade Bitcoins and other cryptocurrencies. Taking profits by some companies is probably the cause of the dip, but that's it. However, a long-term effect would probably be better. Trade carefully, nobody is safe now.

let us pray that this is not just the start of another manipulation , let us hope that this time it is the real deal.

[buwaytress]

October has arrived, and the Bitcoin market seems to be pulling back. Therefore, October probably spikes, it's a good idea to pull your profits, so that you'll have money to buy a crazy dip if there's a problem. We'll be here to trade Bitcoins and other cryptocurrencies. Taking profits by some companies is probably the cause of the dip, but that's it. However, a long-term effect would probably be better. Trade carefully, nobody is safe now.

Dude, as of this moment, Bitcoin's posting a 10%++ 24-hour gain. Well above 45k resistance, and dragging the rest of crypto along with it (3250 ETH, every single alt line in positive territory).

Nice advice for a trader/speculator, but if you're unlucky, this is the year-end run that a lot of people have been waiting for and we don't look back again.

200MA bounce incoming finally? Q4 is here.

[ultrloa]

October has arrived, and the Bitcoin market seems to be pulling back. Therefore, October probably spikes, it's a good idea to pull your profits, so that you'll have money to buy a crazy dip if there's a problem. We'll be here to trade Bitcoins and other cryptocurrencies. Taking profits by some companies is probably the cause of the dip, but that's it. However, a long-term effect would probably be better. Trade carefully, nobody is safe now.

Some speculate that October brings a good reversal to bitcoins so maybe from this month until December we can see bitcoin go bullish and its showing some good sign these days that something good might happen. But let see if this mini run will continue since it will bring the heat on if we can see bitcoin touch at $50k again since for sure many people will get hype back and stake for good since we many still aiming to see bitcoin reach at $100k.

But what most important here is what you said trade carefully since no one can still determine the future.

[freedomgo]

October has arrived, and the Bitcoin market seems to be pulling back. Therefore, October probably spikes, it's a good idea to pull your profits, so that you'll have money to buy a crazy dip if there's a problem. We'll be here to trade Bitcoins and other cryptocurrencies. Taking profits by some companies is probably the cause of the dip, but that's it. However, a long-term effect would probably be better. Trade carefully, nobody is safe now.

Some speculate that October brings a good reversal to bitcoins so maybe from this month until December we can see bitcoin go bullish and its showing some good sign these days that something good might happen. But let see if this mini run will continue since it will bring the heat on if we can see bitcoin touch at $50k again since for sure many people will get hype back and stake for good since we many still aiming to see bitcoin reach at $100k.

But what most important here is what you said trade carefully since no one can still determine the future.

The pump today is just a bounce back, bitcoin has to break the $50k price and stay above it for people to believe that once again we are in bullish mode. The price that we are seeing now is just the same price range we saw in the past few weeks, so nothing really special, unless bitcoin will try to break its resistance.

[leea-1334]

That's why is it called resistance, but no worries, sooner or later it will be broken. Last month the biggest barrier is $48,000, several attempts have been made, (x3 if I'm not mistaken), before we suddenly punch it and stay on that price and then goes to $52,000, new higher highs after the last all time high of $64,000

So still possible to break into that $45,000 resistance and then hopefully we can go to $50,000 this month. September, which is one of the worst month for Bitcoin is already over, let's look forward for October to be a good recovery month.

I know it is still too soon to say anything as Bitcoin already has a lot of momentum spent this week but it is nice to see another try to break the 45k resistance (because this one seems to drop back again),,, it would be nicer to see 50k but the greater victory was that 40k was not broken and if we can hold on to this level until next week, then all is bright again.

[Pamadar]

October has arrived, and the Bitcoin market seems to be pulling back. Therefore, October probably spikes, it's a good idea to pull your profits, so that you'll have money to buy a crazy dip if there's a problem. We'll be here to trade Bitcoins and other cryptocurrencies. Taking profits by some companies is probably the cause of the dip, but that's it. However, a long-term effect would probably be better. Trade carefully, nobody is safe now.

Some speculate that October brings a good reversal to bitcoins so maybe from this month until December we can see bitcoin go bullish and its showing some good sign these days that something good might happen. But let see if this mini run will continue since it will bring the heat on if we can see bitcoin touch at $50k again since for sure many people will get hype back and stake for good since we many still aiming to see bitcoin reach at $100k.

But what most important here is what you said trade carefully since no one can still determine the future.

Very important to analyze the market carefully, it's showing good run now that 10% increase
may attract more investors to start buying, both old and new players inside exchange have an equal chance to earn from this run.

We don't know it this already, the start of another good market bounce or just a quick spike to bring interest with newcomers.

Whatever it is, better to set your plan and don't leave yourself unguarded. The better you understand the market, the better you gain from this industry.

[ethereumhunter]

It is exciting to see what the bitcoin price did this day as we see that the price is getting pump so hard and I hope that it will not stop at the current price. The bitcoin price now is trying to recover and hopefully, the bad news will not coming in this good moment instead will increase more and back to up to $50k. We are closer to $50k and it could reach that price this month as this month already starts. But it is not easy to break the $48k barrier as the price is trying to break $48k but the price is back to the lower price.

[BIN-BIN]

Bitcoin price jumped to above $47k on the 1st of October, a move that has pushed so many Bitcoin analysts to predict a bull market period for Bitcoin this month. Most importantly, is it recovering and moving above the resistance level if Bitcoin recovered fully within this week we are entering then it will be certain that the bull run will pick up during this last quarter of the year 2021 and making a new all-time high before the year comes to an end.

[el kaka22]

Bitcoin price jumped to above $47k on the 1st of October, a move that has pushed so many Bitcoin analysts to predict a bull market period for Bitcoin this month. Most importantly, is it recovering and moving above the resistance level if Bitcoin recovered fully within this week we are entering then it will be certain that the bull run will pick up during this last quarter of the year 2021 and making a new all-time high before the year comes to an end.

The increase that we are seeing at over 47k per bitcoin is just something that is recovering because it is start of the month. There are way too many people who get paid on the first day of the month and that means there were a lot of people who got their salary all at the same time. Not everyone gets paid on the first but if you check the dates in the world where salaries are deposited into accounts, first of every month is probably the most common day globally.

So, it is not a shock that on the first of every month we could see a spike in price, it doesn't have to happen, sometimes it doesn't happen but if you check each month you will see that first of each month is better than last week of it.