Bitcoin is recovering

[Yamifoud]

I'm seeing higher lows here so there is the beginnings of a recovery there but I remain a constant skeptic of weekend action until it passes the Monday open and full volume.   After the holiday closes the Monday action could be like opening the door to find an arctic blast, a very different environment then currently registering on graphs.   Or I could be wrong and markets are not that paniced or disturbed especially by recent world events.   I think we must revise prices I've said it plenty and roughly my target has been 50k which we have mostly achieved.   I need volume in the recovery I think, its not there yet.

well, I think we've got in peak by Monday and onwards. It was likely we are settling down by the weekend seeing the price tried to calm down and move back high again. I also wait for what will happen a few days from now but I expect a surge (not in hype). I could say that the market is calmly moving up and down without any huge factors affecting the trend.
Well, that recovery seems to be going to happen always and that is why I keep myself aware of and not going to miss any chance to buy the dip before the surge begins.

[Kemarit]

In my opinion, it looks like Bitcoin is still in a sharp correction phase where the downward trend in price continues. Moreover, if seen at a glance from the movement of the price chart in the last few days the price of bitcoin has not shown a significant increase or breakout point to get to the new ATH.

How did you identify that it is still in a sharp correction phase, the market today looks like it is stabilizing and there is not much selling pressure as far as i see in the market, but anything is possible as i am not capable of prediction what might happen in the next few days and so does anyone, but the current market does not looks there is not much selling pressure for the market to go down further as the buy walls are filling up quickly for now.

We are probably going to trade sideways for now because of the covid-19 new strain news (although I firmly believed it doesn't have that significant effect to crypto sphere as compare to lets says Nasdaq or S&P).

So I'm expecting a little movement on the price till this weekends but hopefully when Monday comes we might see some semblance of a rally again to $60k. I think the selling pressure is done was well as the price is closing to it's old support of $55k.

For now bitcoin is undergoing a correction, it is estimated that this will last until the end of the month, this condition actually needs to be used to make purchases and is suitable for short-term investment patterns, if the price does not move up until the end of this month, then the opportunity in December is quite open to return to the bull run, let's see how far the correction to bitcoin will return to normal, or even bitcoin will experience a long correction.

I don't think this is still a correction, this is a full reversal already as we have break down the support level of $55,000 if you haven't noticed. End of the month? it's just a couple of days from month, and with the latest news on Covid-19 strain, this might continue up to early December and will only stop when there is a break out run.

I haven't check any TA yet, but yeah, seems to be bearish to me. Nevertheless, as I have said, we might see an imminent break out this December if everything has settled down.

[Rasa nanas]

not long after this thread made the price of bitcoin experienced a very significant drop to the point of $54k. you could say this is really a trap, if you buy around the price of $ 60k because you think the price will continue to rise means you have entered the bull trap. if you are caught in a bull trap all you can do is just keep holding on until the price goes up again, but don't worry because after a significant decline usually not long after the price will move back up.

[Oasisman]

not long after this thread made the price of bitcoin experienced a very significant drop to the point of $54k. you could say this is really a trap, if you buy around the price of $ 60k because you think the price will continue to rise means you have entered the bull trap. if you are caught in a bull trap all you can do is just keep holding on until the price goes up again, but don't worry because after a significant decline usually not long after the price will move back up.

I believe there was no bull trap that happened. That recovery we've seen didn't even break the resistance level. That was just a small recovery and now, Bitcoin is once again being corrected. The price has been hovering around $54,000 for the last 48 hrs. this may or may not continue to fall, we still have a lot of positive and bullish news around the crypto space. So, there's nothing to worry.
If you buy at $60,000, then it gives you more reason to buy at $54,000.

[Mr.Scott]

not long after this thread made the price of bitcoin experienced a very significant drop to the point of $54k. you could say this is really a trap, if you buy around the price of $ 60k because you think the price will continue to rise means you have entered the bull trap. if you are caught in a bull trap all you can do is just keep holding on until the price goes up again, but don't worry because after a significant decline usually not long after the price will move back up.

I see alot of posts about Bitcoin touching 100K before the finish of year. I've been motivated by those posts and obviously others also fall into same circumstance then purchase. Now, we have first concern is how low can Bitcoin go?
will there another layer or is 54k the line we turn back? Let's figure it out and wish this time avoid a significant decline, i mean under 50K

[sana54210]

I believe there was no bull trap that happened. That recovery we've seen didn't even break the resistance level. That was just a small recovery and now, Bitcoin is once again being corrected. The price has been hovering around $54,000 for the last 48 hrs. this may or may not continue to fall, we still have a lot of positive and bullish news around the crypto space. So, there's nothing to worry.
If you buy at $60,000, then it gives you more reason to buy at $54,000.

Bull trap is not really a manipulation thing that the name suggests. I know when you hear "bull trap" you think there are some people out there who make it look like it is going up, so everyone jumps back in, and then they sell more and make the profit and the price falls down. But that is not really it, that is just the name of it. Bull trap is basically a small recovery in the middle of a fall.

So, you are at 10, drop to 6, raise back to 8, and drop to 4. That "raise back to 8" part is what bull trap is all about and could be called that no matter what the reason for the increase was. So, let's just assume for the moment that things are not looking out great, and it could still be decent if it stops going down more.

[EdenHazard]

not long after this thread made the price of bitcoin experienced a very significant drop to the point of $54k. you could say this is really a trap, if you buy around the price of $ 60k because you think the price will continue to rise means you have entered the bull trap. if you are caught in a bull trap all you can do is just keep holding on until the price goes up again, but don't worry because after a significant decline usually not long after the price will move back up.

I see alot of posts about Bitcoin touching 100K before the finish of year. I've been motivated by those posts and obviously others also fall into same circumstance then purchase. Now, we have first concern is how low can Bitcoin go?
will there another layer or is 54k the line we turn back? Let's figure it out and wish this time avoid a significant decline, i mean under 50K

50k are on the edge now ..

we might break the support below 50k and touched it for the first time in 30 days. there is no sentiment to prove this could happened by tomorrow or so , bu the data says ... we are heading into a bear trend .
for sure nobody know what will happen next , im just saying we are heading into it and it getting closer day by day.
watchout!

[palle11]

Bitcoin is taking a turn around and moving gradually up at the moment and selling at $55, 788. Is looking like the new week is going to find a resistance back at $60k with the wave and direction of candles on a longer time frame. I guess there could be some positive move forward the beginning of the first week in December.

[Slow death]

I wonder what it means by recovering, the price can be stagnant in the range of $53000 to $57000, that doesn't mean that it has recovered, it is just stagnant in a certain zone waiting to determine what will be the next move if it will rise or if it will fall too much. with this virus variant the markets are back and having dark times

[yohananaomi]

Bitcoin is taking a turn around and moving gradually up at the moment and selling at $55, 788. Is looking like the new week is going to find a resistance back at $60k with the wave and direction of candles on a longer time frame. I guess there could be some positive move forward the beginning of the first week in December.

Yes, bitcoin now have tried several times to break through $58K but haven't been able to reach it and drop back at $57K, looks like resistance at $60K. hopefully the end of this month can be passed by bitcoin so that the ability to increase in december can be easily done.
there is always a chance that bitcoin can be done at the end of this year because bitcoin movement can do that quickly. we wait patiently.

[elisabetheva]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

it looks like bitcoin has been increasing for the past few days but then dropped back and this has continued to be done since ATH was formed. now to be able to reach $ 60K seems a bit difficult to achieve, is this the resistance of bitcoin to be able to reach even higher? I don't think it will be like that even though the end of the month is only a few moments, maybe the last time bitcoin will be able to pass $60K. and the end of the year there will still be surprises made by bitcoin and we are waiting for that.

[buwaytress]

I wonder what it means by recovering, the price can be stagnant in the range of $53000 to $57000, that doesn't mean that it has recovered, it is just stagnant in a certain zone waiting to determine what will be the next move if it will rise or if it will fall too much. with this virus variant the markets are back and having dark times

Sort of like me trying to recover from old bad habits. Every time I think I'm round a corner I stagger back into a rut. I usually don't think there's much any more to new Covid strains but this particular one seems to be coming on at the same time other figures are coming out all over the world for Q3 economy. Inflation up, jobs down, bleak times and doom prophets getting bolder.

Much as Bitcoin could be one of several safe havens, it'd have to survive some battering first.

[arwin100]

Bitcoin is taking a turn around and moving gradually up at the moment and selling at $55, 788. Is looking like the new week is going to find a resistance back at $60k with the wave and direction of candles on a longer time frame. I guess there could be some positive move forward the beginning of the first week in December.

Yes, bitcoin now have tried several times to break through $58K but haven't been able to reach it and drop back at $57K, looks like resistance at $60K. hopefully the end of this month can be passed by bitcoin so that the ability to increase in december can be easily done.
there is always a chance that bitcoin can be done at the end of this year because bitcoin movement can do that quickly. we wait patiently.

Maybe for now its struggling to reach back again at $60k since many people are still afraid to buy since they think that this is the start of the bear but for sure once we remain stable at this figure for sure we can see this climb on next month since many people will get back on their feet then buy again since many will provably think that we can see a better picture of it next year. Hopefully this remaining this of the month we will be surprise by bitcoin to reach at $60k again.

[onecall123]

Looking at the current situation, it is clear that Bitcoin is in a slow recovery mode. If we look at its price movement then it is clear that 53k to 57k refers to gradual improvement. So we can say that bitcoin is in recovery mode.

In the wake of a spike, it is necessary to struggle for some time, but it is merely a matter of time. Our Bitcoin market is definitely in recovery mode, and one of the biggest whales strikes again! A new 7,002 bitcoins were purchased by MicroStrategy, now they own 121,044 BTC in total.
Everything is under control, nothing major to worry about. You just have to bite your part and move on.

[Falconer]

Looking at the current situation, it is clear that Bitcoin is in a slow recovery mode. If we look at its price movement then it is clear that 53k to 57k refers to gradual improvement. So we can say that bitcoin is in recovery mode.

Investors or traders may still hesitate to buy a lot of bitcoins because they are affected by some FUD. India is planning to ban crypto and this is news that could affect a lot right now in the market. But I'm not really sure if India's wish will come true, but it's definitely not the right time as the market cap is expected to increase during December 2021.

The slow recovery process proves that traders are just being cautious about entering the market. But if the $60K resistance is broken again then I think a bull run is imminent.

[Botnake]

Looking at the current situation, it is clear that Bitcoin is in a slow recovery mode. If we look at its price movement then it is clear that 53k to 57k refers to gradual improvement. So we can say that bitcoin is in recovery mode.

Investors or traders may still hesitate to buy a lot of bitcoins because they are affected by some FUD. India is planning to ban crypto and this is news that could affect a lot right now in the market. But I'm not really sure if India's wish will come true, but it's definitely not the right time as the market cap is expected to increase during December 2021.

The slow recovery process proves that traders are just being cautious about entering the market. But if the $60K resistance is broken again then I think a bull run is imminent.

I agree that bitcoin is already starting to recover slowly as well as for those potential altcoins. Well, if the current price for bitcoin will continue to break the $60k resistance level, i think this will be leading into a higher value which will be possible for the achievement of a new ATH just before this year ends. But all this prediction will still be uncertain unless we start crossing the bridge. Investors and traders are still hesitant what movement to do since the market still looks bearish, but definitely buying bitcoin at this moment is still good enough as long as its still below $60k.

[matchi2011]

Looking at the current situation, it is clear that Bitcoin is in a slow recovery mode. If we look at its price movement then it is clear that 53k to 57k refers to gradual improvement. So we can say that bitcoin is in recovery mode.

Investors or traders may still hesitate to buy a lot of bitcoins because they are affected by some FUD. India is planning to ban crypto and this is news that could affect a lot right now in the market. But I'm not really sure if India's wish will come true, but it's definitely not the right time as the market cap is expected to increase during December 2021.

The slow recovery process proves that traders are just being cautious about entering the market. But if the $60K resistance is broken again then I think a bull run is imminent.

I agree that bitcoin is already starting to recover slowly as well as for those potential altcoins. Well, if the current price for bitcoin will continue to break the $60k resistance level, i think this will be leading into a higher value which will be possible for the achievement of a new ATH just before this year ends. But all this prediction will still be uncertain unless we start crossing the bridge. Investors and traders are still hesitant what movement to do since the market still looks bearish, but definitely buying bitcoin at this moment is still good enough as long as its still below $60k.

Investing in this coin is really tough if you don't have enough knowledge and patience, lucky for those who bought several days
Ago, they are now seeing the benefits after this bounce. It's still possible to buy at this point if you are bullish, the last time high
might be reached back or possible to break it and a new ATH will be introduced.

It's up to your own assessment. Invest with your full confidence after doing your DYOR.

[jostorres]

Maybe for now its struggling to reach back again at $60k since many people are still afraid to buy since they think that this is the start of the bear but for sure once we remain stable at this figure for sure we can see this climb on next month since many people will get back on their feet then buy again since many will provably think that we can see a better picture of it next year. Hopefully this remaining this of the month we will be surprise by bitcoin to reach at $60k again.

Looks to be doing fine tbf. I mean I get that the price is always changing constantly so people are having hard time finding what would be the price at that moment which I understand since it is very volatile. However, maybe these type of messages should be reserved with some caution when talking about crypto.

It is not having hard time since it already started to go back up and if it keeps going higher than we are going to be above 60k very easily again. Or maybe we will suddenly have a crash and be under 50k? Who knows what is going to happen, crypto is a very fragile thing and it could be amazing or it could be horrible all at the same time and we can't really know which one it will become.

[Devifajarina]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

What is certain is that bitcoin is undergoing a correction, but today it is in a recovery phase, progress from the correction to recovery will take place at the beginning of this month, but for this time it is difficult for us to analyze bitcoin further, whether this is a bull trap or an upward phase a much higher price, but still many people are optimistic that bitcoin will hit the target as many observers predicted, either at the end of the year or early next year, let's see what will happen?

[Kelvinid]

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

What is certain is that bitcoin is undergoing a correction, but today it is in a recovery phase, progress from the correction to recovery will take place at the beginning of this month, but for this time it is difficult for us to analyze bitcoin further, whether this is a bull trap or an upward phase a much higher price, but still many people are optimistic that bitcoin will hit the target as many observers predicted, either at the end of the year or early next year, let's see what will happen?

If we notice today's market then we could say bitcoin is definitely at the stage of progress post correction. I think bitcoin will cruise towards $70k by the first two weeks of December and then we might see one more temporary dump or extended bearish period mostly the end of the year is gloomy for bitcoin, but I feel this year it would be different and investors would buy more at dip and we can take MicroStrategy as an example who has accumulated a total of 7008 bitcoin since October.

That always it comes as expected. Yeah, it was very noticing to see that there is a slow recovery moving back to $60k once again. It is a repeating situation and we dare not to worry about every drops it made as surely this will be resolved in time. And those who accumulate Bitcoin during the correction, I could dare to say that they are now a profit. That is why we couldn't have to underestimate the capability of the market, for several times that we tend to think negative but despite those things, we still holding and hoping for a brighter future.