Bitcoin on a recovery mode

[geegaw]

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.

The price of bitcoin is like a great firefighter, saving quite a few people from the depths of the red fires from the last days of a month full of unnecessary incidents, I didn't even have a bit of hope and believe that the first days of the new month will as many say, the green zone will no longer call bitcoin but the red zone will call it constantly. However, bitcoin got up in the storm and didn't let everything sink, don't know if the blood pump mode will be stable or not but when bitcoin is in such a return mode, those who are trapped should do the right thing, waiting for the next instruction

[BITCOIN4X]

The price of bitcoin is like a great firefighter, saving quite a few people from the depths of the red fires from the last days of a month full of unnecessary incidents, I didn't even have a bit of hope and believe that the first days of the new month will as many say, the green zone will no longer call bitcoin but the red zone will call it constantly. However, bitcoin got up in the storm and didn't let everything sink, don't know if the blood pump mode will be stable or not but when bitcoin is in such a return mode, those who are trapped should do the right thing, waiting for the next instruction

Something good for bitcoin in early october. After experiencing a deep correction for the last 10 days in September to reach the $40K price, earlier this month the bitcoin price rose again through the $48K resistance. Now it might be good to expect it to break through the $50K level again, but I think a small correction will still occur before that level is broken.

At the moment many might expect the previous ATH to be hit again in October to December and the gains in the last 2 days have opened up traders' hopes to see it hit. As I mentioned in another post, I'm actually a bit hesitant to see the price over $64K again when comparing it to bitcoin's past history. But no history is completely true because it is ultimately supply and demand that decides.

[jaberwock]

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.

It is understandable to get your hopes up because you saw bitcoin increase, but it is always more logical to keep your hopes down during these periods. Remember increasing prices means that you get to sell your crypto and not buy it, that way you could make a profit when it is at the top. When it goes down and crashes, then you can start to buy more. If you are a long term investor then you do not sell when it is high and just keep waiting, buy more when it is low but do not sell when it is high if you want the profits of long term investing. I am keeping my hopes low for now, I want to see bitcoin break over half a million dollars in price and that will not happen anytime soon, so all these ups and downs do not matter to me.

[Hypnosis00]

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.

Mostly we have Bullrun during the 4th quarter in the past years and with what is shown to us this time, that was an indication that might it come again. We can't feel it now since it was just about to start but we're going to that position if the current momentum will continue.

2021 is a great year for crypto. We're making another great history and we have witnessed that history never repeats itself. Maybe some will disagree with me but as we can see that the market is moving differently, recoveries come fast unlike in the previous correction,s and in fact, we are expecting for the bear season to come after Bullrun but the good thing is that it never happens.

[STT]

We're back to the window which is the area for where volume and price can be missing as it moved too fast to record especially.   It can be a form of resistance by itself as an area where the selloff began.
  I dont expect us to go straight up, every week usually puts us through a cycle where we must begin on Monday with orders waiting from main markets.   A sign of caution due is the 200 day average now falling, we have some reason to doubt every rally completes and resolves upwards.

[7788bitcoin]

I dont expect us to go straight up, every week usually puts us through a cycle where we must begin on Monday with orders waiting from main markets.   A sign of caution due is the 200 day average now falling, we have some reason to doubt every rally completes and resolves upwards.

I have no idea why the market recovered quickly in the past two days and now we are hearing about the major hack in coinbase and how it will have an impact in the market. Whenever there is a slight change in the market sentiment we will hear some sort of negative news and the market will retract, either the China FUD or any major exchange hack.

[TravelMug]

I dont expect us to go straight up, every week usually puts us through a cycle where we must begin on Monday with orders waiting from main markets.   A sign of caution due is the 200 day average now falling, we have some reason to doubt every rally completes and resolves upwards.

I have no idea why the market recovered quickly in the past two days and now we are hearing about the major hack in coinbase and how it will have an impact in the market. Whenever there is a slight change in the market sentiment we will hear some sort of negative news and the market will retract, either the China FUD or any major exchange hack.

It was the Chairman Powell saying that crypto will not be ban in the US, and that statement pushes the price, 10% in the last 2 days.

But then we encountered again the biggest obstacles which is $48k, from what I remember it took us weeks to conquered that price and move to $50k. So the same scenario might be happening again. It's a big mental barrier so yes, there is no going straight up in weeks. We might see the price trading sideways again for sometime before we can see a break out run.

[leea-1334]

We're back to the window which is the area for where volume and price can be as it moved too fast to record especially.   It can be a form of resistance by itself as an area where the selloff began.
  I dont expect us to go straight up, every week usually puts us through a cycle where we must begin on Monday with orders waiting from main markets.   A sign of caution due is the 200 day average now falling, we have some reason to doubt every rally completes and resolves upwards.

I think also that a lot of people would be disappointed that 50k was not reached,,, and we must take note the natural deadline for a lot of people might be today (instead of 30 September) that traders were willing to wait and see. They are now probably just letting go and taking fresh positions or looking for a bargain at 45k,,, to make it "easy" 10% when 49k comes again.

[LUCKMCFLY]

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.

You are right, in fact there is a YouTuber that I follow and he thinks that due to the movements made lately by BTC it has given the bears reason to make a good attack, however many are waiting for the move to $ 100k, but this is from Be careful since most of the time the market does the opposite of what the masses think.

Many are in Hodl mode, which, I think is a very good strategy, as there is so much volatility I think that at the moment anything can happen, the events that can predict the movements of BTC already depend on the plans of the whales and in other cases the influence of people's emotions.

[chikading2016]

Well it is so clear on the price that Bitcoin is in recovery mode right now. It is all because of some bullish news that is publish on social media one of this news is, first reported by CNBC, revealed that US Bank partnered with New York Digital Investment Group (NYDIG) to provide crypto services for Bitcoin, Litecoin, and Bitcoin Cash. Support for other cryptocurrencies like Ether (Ethereum) will be rolled out in the near future.

The new initiative comes a year after the Office of the Comptroller of the Currency (OCC) – an independent bureau within the United States Department of Treasury – released a paper that permits national banks to offer custody of crypto assets.

[jakdanyel]

Bitcoin's recovery phase started and nearly finished in a very short time period. Even though China tried to spread a FUD, Bitcoin price didn't care about it and started going the opposite way to it. In the last 24 hours, we saw it reaching $56k. It is closing in on the all-time-high level every day. We saw a little price corrections while this run is going on. But they are not too serious.

[Fredomago]

Bitcoin's recovery phase started and nearly finished in a very short time period. Even though China tried to spread a FUD, Bitcoin price didn't care about it and started going the opposite way to it. In the last 24 hours, we saw it reaching $56k. It is closing in on the all-time-high level every day. We saw a little price corrections while this run is going on. But they are not too serious.

Even China is making its way to create fuds bitcoin is not being threaten, still in its good phase. Little by little it's moving upwards $10K more and it will again reach or break the last time high. Still early for the last quarter, anything can happen along the way. If this pressure continues to dominate the market, more strong bull run may take place.

If you are planning to invest now, aimed for long as the market may experienced some correction and if you are weak, you'll lose your chance, take time though to do your research before taking side, it's you alone who can decide in terms of your investment.

[Baofeng]

Bitcoin's recovery phase started and nearly finished in a very short time period. Even though China tried to spread a FUD, Bitcoin price didn't care about it and started going the opposite way to it. In the last 24 hours, we saw it reaching $56k. It is closing in on the all-time-high level every day. We saw a little price corrections while this run is going on. But they are not too serious.

Yes, I thought that the run is over after seeing a correction of $53k. But then bitcoin continue to defy the negative news goes to $56k. Now we are in the sideways, a good indication that at anytime we could have a break out run again to a new all time high. Patience is the key here, and if others have the capital, then it's good to still buy at this point and see the price goes to $63k-$64k. As far as the Chinese FUD, investors grew tired of it, and then we have a lot of positive news that overlay this FUD and the result is a fast bounce back and recovery to $56k.

[cryptomaniac_xxx]

Well it is so clear on the price that Bitcoin is in recovery mode right now. It is all because of some bullish news that is publish on social media one of this news is, first reported by CNBC, revealed that US Bank partnered with New York Digital Investment Group (NYDIG) to provide crypto services for Bitcoin, Litecoin, and Bitcoin Cash. Support for other cryptocurrencies like Ether (Ethereum) will be rolled out in the near future.

The new initiative comes a year after the Office of the Comptroller of the Currency (OCC) – an independent bureau within the United States Department of Treasury – released a paper that permits national banks to offer custody of crypto assets.

I think it's more of a possible Bitcoin ETF being approval, there are news that the possibility is very high for approval that's why the price goes up very quick and still maintain to the levels of $55k-$56k, and just a couple of hundreds to a ATH.

So all the positive news comes from the US itself, as there are a lot of things going on behind, and when we see or hear the reports, it has an instant effect to the price.

[rahmatrf331]

Well it is so clear on the price that Bitcoin is in recovery mode right now. It is all because of some bullish news that is publish on social media one of this news is, first reported by CNBC, revealed that US Bank partnered with New York Digital Investment Group (NYDIG) to provide crypto services for Bitcoin, Litecoin, and Bitcoin Cash. Support for other cryptocurrencies like Ether (Ethereum) will be rolled out in the near future.

The new initiative comes a year after the Office of the Comptroller of the Currency (OCC) – an independent bureau within the United States Department of Treasury – released a paper that permits national banks to offer custody of crypto assets.

I think it's more of a possible Bitcoin ETF being approval, there are news that the possibility is very high for approval that's why the price goes up very quick and still maintain to the levels of $55k-$56k, and just a couple of hundreds to a ATH.

So all the positive news comes from the US itself, as there are a lot of things going on behind, and when we see or hear the reports, it has an instant effect to the price.

bitcoin is no longer in recovery mode but has entered support mode, because bitcoin has penetrated the previous price of $ 52k and now bitcoin's movement is very sharp, almost breaking the highest level that ever happened last april, which was $ 62k. so for that we can no longer say that bitcoin is in recovery mode.

[suzanne5223]

Well it is so clear on the price that Bitcoin is in recovery mode right now. It is all because of some bullish news that is publish on social media one of this news is, first reported by CNBC, revealed that US Bank partnered with New York Digital Investment Group (NYDIG) to provide crypto services for Bitcoin, Litecoin, and Bitcoin Cash. Support for other cryptocurrencies like Ether (Ethereum) will be rolled out in the near future.

The new initiative comes a year after the Office of the Comptroller of the Currency (OCC) – an independent bureau within the United States Department of Treasury – released a paper that permits national banks to offer custody of crypto assets.

I think it's more of a possible Bitcoin ETF being approval, there are news that the possibility is very high for approval that's why the price goes up very quick and still maintain to the levels of $55k-$56k, and just a couple of hundreds to a ATH.

So all the positive news comes from the US itself, as there are a lot of things going on behind, and when we see or hear the reports, it has an instant effect to the price.

bitcoin is no longer in recovery mode but has entered support mode, because bitcoin has penetrated the previous price of $ 52k and now bitcoin's movement is very sharp, almost breaking the highest level that ever happened last april, which was $ 62k. so for that we can no longer say that bitcoin is in recovery mode.

First of all, Bitcoin does not recover its bullish momentum because of the positive news on some media outlets and social media but Bitcoin making the last Bullish of the year just like we have seen in the previous Bitcoin halving market. However, the best thing everyone should do now is to make good use of this moment cause good doesn't always last long.

[Vaculin]

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bitcoin is no longer in recovery mode but has entered support mode, because bitcoin has penetrated the previous price of $ 52k and now bitcoin's movement is very sharp, almost breaking the highest level that ever happened last april, which was $ 62k. so for that we can no longer say that bitcoin is in recovery mode.

First of all, Bitcoin does not recover its bullish momentum because of the positive news on some media outlets and social media but Bitcoin making the last Bullish of the year just like we have seen in the previous Bitcoin halving market. However, the best thing everyone should do now is to make good use of this moment cause good doesn't always last long.

Besides, we don't turn to bearish yet, and so there is no such thing as recovery. It is a sort of price fluctuation, the market moves in sideways and we often see this from time to time. Those who never understand the market will likely think negatively as we observe but those who have trust, still remain optimistic and hold.

That for sure this won't stay long and have this opportunity not to miss again and regrets later. if we wanted to buy more or to sell some, better to do it now before the prices changed.

[Wawa2013]

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bitcoin is no longer in recovery mode but has entered support mode, because bitcoin has penetrated the previous price of $ 52k and now bitcoin's movement is very sharp, almost breaking the highest level that ever happened last april, which was $ 62k. so for that we can no longer say that bitcoin is in recovery mode.

First of all, Bitcoin does not recover its bullish momentum because of the positive news on some media outlets and social media but Bitcoin making the last Bullish of the year just like we have seen in the previous Bitcoin halving market. However, the best thing everyone should do now is to make good use of this moment cause good doesn't always last long.

Besides, we don't turn to bearish yet, and so there is no such thing as recovery. It is a sort of price fluctuation, the market moves in sideways and we often see this from time to time. Those who never understand the market will likely think negatively as we observe but those who have trust, still remain optimistic and hold.

That for sure this won't stay long and have this opportunity not to miss again and regrets later. if we wanted to buy more or to sell some, better to do it now before the prices changed.

The price of Bitcoin is volatile, so it's not surprising that the price will move up and down significantly. Therefore I highly recommend taking profit if
there is an opportunity, because we will regret it if we miss the opportunity to make a profit. For now I will take profit if I have made a profit and
will buy again when the price drops. I did this over and over, to collect profit. Although some of the Bitcoins I own I choose to hold in the long term,
I combine short term and long term Bitcoin investments. Because indeed if we understand how Bitcoin works, we will find it easier to make profit
from Bitcoin whatever the situation.

[djgtr]

Bitcoin already recover it is now 56,238$ and rising. The Bitcoin price drop because of China's banning of cryptocurrency but it is now recovering because of some good news from U.S and other country like El salvador and venezuela, the largest bank of El salvador are now accepting crypto and Venezuela's airport is now accepting btc for flight payments this are some of the bullish news that make btc recover.

[MiF]

Bitcoin already recover it is now 56,238$ and rising. The Bitcoin price drop because of China's banning of cryptocurrency but it is now recovering because of some good news from U.S and other country like El salvador and venezuela, the largest bank of El salvador are now accepting crypto and Venezuela's airport is now accepting btc for flight payments this are some of the bullish news that make btc recover.

I agree on that Bitcoin is now fully recovered from the past dropping of it's price. Bitcoin's value largely depends on its supply and the market's demand for it. Maybe the demand are now rising because of some good news resulting in it's price to rise. People are now aware of Bitcoin and the profit that they can possibly earn on it that is why there are panic buying that happens.