Bitcoin is recovering

[Baofeng]

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.

Yeah, good to see that at least during the stage of this week, we have seen bitcoin going to more than $58k, this is a good sign that we are on some recovery phase and hopefully this is not a bull trap and this is for real and will attempt to break the next big barrier of $60k within the week.

If this is not a bull trap then I expect that we will be on another bullish run this December. Similar to past years run wherein December was really super bullish and we've seen the price grows up massively.

[bitgov]

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's a very difficult question. Looking at the chart, everything indicates that the correction is over and the price should be climbing for the new ATH. However, I have a disturbing feeling that this is a bull trap and the correction will be much bigger.

[TinaK]

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's a very difficult question. Looking at the chart, everything indicates that the correction is over and the price should be climbing for the new ATH. However, I have a disturbing feeling that this is a bull trap and the correction will be much bigger.

We keep speculating here because the fact is we did not know the real result.
I don't have any negative speculation towards bitcoin price, as I can see, we still have good news that could maybe have an effect on the bitcoin price someday. We know that bitcoin can't be able to climb up straight forward, there should be always a correction that happens and it has happened now and this could be a start that bitcoin price will increase again and yes, another ATH could be there, remember that usually in the month of December bitcoin price will usually at the peak price.

[STT]

Right now the price is positive and indicating upwards but its close enough now to 59k that it might appear alot less rosy in 24hr time because we might either slow to a stop or find speculators cash out their trades from this bounce because its at a ceiling.
   I think we get all the way to the 50 day average area which is about 61k then it either rejects or finds enough strength to overcome the barriers that led us to the recent lows.   Fine weather today but clouds on the horizon is my rough summary.

[Vaculin]

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's a very difficult question. Looking at the chart, everything indicates that the correction is over and the price should be climbing for the new ATH. However, I have a disturbing feeling that this is a bull trap and the correction will be much bigger.

We keep speculating here because the fact is we did not know the real result.
I don't have any negative speculation towards bitcoin price, as I can see, we still have good news that could maybe have an effect on the bitcoin price someday. We know that bitcoin can't be able to climb up straight forward, there should be always a correction that happens and it has happened now and this could be a start that bitcoin price will increase again and yes, another ATH could be there, remember that usually in the month of December bitcoin price will usually at the peak price.

Yes, it has always been the trend but this year remains to be uncertain because we really can’t tell if the correction is over or will still be here for months. But it’s really a good feeling seeing bitcoin is now recovering from the ongoing correction and this will give hope for everyone especially for long term holders that we will still profitable before 2021 ends. Although not all coins have recovered but for those who are much dependent on bitcoin, I know they will also make it once bitcoin will end up with a new ATH. So we are about to witness not a bull trap but a real bull run if bitcoin will break the resistance level and reaches its new peak again.

[kotajikikox]

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?

But fails to touch 60k once more and now struggling to break 58k again.

Bitcoin has been being pumped and dumped and we cannot say that this is a correction because there are chance that it may grows high but being hindered, meaning there are manipulation happening?

anyway I don't really care because i am for holding so these small movement does not bother me at any cost.

[Wawa2013]

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's a very difficult question. Looking at the chart, everything indicates that the correction is over and the price should be climbing for the new ATH. However, I have a disturbing feeling that this is a bull trap and the correction will be much bigger.

We keep speculating here because the fact is we did not know the real result.
I don't have any negative speculation towards bitcoin price, as I can see, we still have good news that could maybe have an effect on the bitcoin price someday. We know that bitcoin can't be able to climb up straight forward, there should be always a correction that happens and it has happened now and this could be a start that bitcoin price will increase again and yes, another ATH could be there, remember that usually in the month of December bitcoin price will usually at the peak price.

Yes, it has always been the trend but this year remains to be uncertain because we really can’t tell if the correction is over or will still be here for months. But it’s really a good feeling seeing bitcoin is now recovering from the ongoing correction and this will give hope for everyone especially for long term holders that we will still profitable before 2021 ends. Although not all coins have recovered but for those who are much dependent on bitcoin, I know they will also make it once bitcoin will end up with a new ATH. So we are about to witness not a bull trap but a real bull run if bitcoin will break the resistance level and reaches its new peak again.

As long as the Bitcoin price is still below $60k, I don't think we can say for sure whether the correction is over or not. What is certain now is that
the price of Bitcoin is trying to slowly rise to near the price of $60k, hopefully the price of Bitcoin does not fall anymore. So we have to be careful
with the decisions we will take, there is a possibility of a positive trend that usually occurs at the end of the year, this year did not happen. We really
have to be patient waiting for Bitcoin price developments to enter this December, I really hope Bitcoin can recover and rise again above $60k in price,
then it can reach new ATH and make altcoins prices go up too. What we can do now is that we have to be patient with our Bitcoin holdings,
until the target we set is achieved.

[rodskee]

Now still pushing to stay at 57,000$ but looks like the force is not that strong and continues to fall back to 56,000

https://coinmarketcap.com/currencies/bitcoin/markets/

but December is coming tomorrow so i think there will be changes from the month of november to the next?


And also the speculation is either Bull trap or Bull ran before the year ends.

[ultrloa]

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?

But fails to touch 60k once more and now struggling to break 58k again.

Bitcoin has been being pumped and dumped and we cannot say that this is a correction because there are chance that it may grows high but being hindered, meaning there are manipulation happening?

anyway I don't really care because i am for holding so these small movement does not bother me at any cost.

Maybe this happening right now is due to peoples reaction and manipulation didn't do anything with it, but the good thing there is bitcoin didn't drop below 50k and this current price is a decent place for bitcoin to go thru. Maybe if bitcoin could sustain to this level by this month or until the end of the year maybe by first quarter of the year we can see the price rise up again. Although our speculation doesn't have a basis but as long as we can see bitcoin at good state we can rest with at ease.

[btc_angela]

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?

But fails to touch 60k once more and now struggling to break 58k again.

Bitcoin has been being pumped and dumped and we cannot say that this is a correction because there are chance that it may grows high but being hindered, meaning there are manipulation happening?

anyway I don't really care because i am for holding so these small movement does not bother me at any cost.

Maybe this happening right now is due to peoples reaction and manipulation didn't do anything with it, but the good thing there is bitcoin didn't drop below 50k and this current price is a decent place for bitcoin to go thru. Maybe if bitcoin could sustain to this level by this month or until the end of the year maybe by first quarter of the year we can see the price rise up again. Although our speculation doesn't have a basis but as long as we can see bitcoin at good state we can rest with at ease.

Perhaps it was just another false breakout. But the price is really volatile as it goes down to $56k and then bouncing off to $58k again. Really hard to predict the price, but maybe this incoming December, we might see a good bullish run to $60k again and I think we are all good to see it and maybe another all time high before the end of the year. We are now being challenge mentally to really HODL on BTC and not just panic sell.

[maydna]

I wonder if the price can go back to $58k, but I am sure it can because the price is now still trying to break the $58k barrier, and even if the price is down for a little, the price can increase, and hopefully, next month will be good for bitcoin to increase. If the price can increase to $58k and back to $60k, the chance to rise higher will be wide open, but we need to be careful because the price will always be volatile.

[Obito]

I wonder if the price can go back to $58k, but I am sure it can because the price is now still trying to break the $58k barrier, and even if the price is down for a little, the price can increase, and hopefully, next month will be good for bitcoin to increase. If the price can increase to $58k and back to $60k, the chance to rise higher will be wide open, but we need to be careful because the price will always be volatile.

You've answered your question already plus you are also trusting that bitcoin will go back up, to me this is a good respite and opportunity for the people that wants to get into the market since the price isn't peaking meaning that this could be a good ride towards a big pump in the near future. You can always use the volatility to your advantage, it's not like it's the end of the world if you got caught in a dump, patience is the greatest weapon that a trader or hodler should possess.

[Oasisman]

I wonder if the price can go back to $58k, but I am sure it can because the price is now still trying to break the $58k barrier, and even if the price is down for a little, the price can increase, and hopefully, next month will be good for bitcoin to increase. If the price can increase to $58k and back to $60k, the chance to rise higher will be wide open, but we need to be careful because the price will always be volatile.

Bitcoin always has the highest chance of rising than any other coins in the market. The only question is the time, regardless If it breaks another resistance or not because It also may suffer a correction. It might be hard for Bitcoin to stay above $60k as of the moment, but breakouts happens unexpectedly.
However, I'm not gonna be expecting something big this last month of 2021 If Bitcoin cannot pass $70k. Next year will be the most interesting one.

[TopTort777]

Imho, it does not look like Bitcoin is really recovering. During last 14 days I often see how the price goes after lunch and I when go to sleep, I see something around 58k. But when I wake up it is always 1500 +/- drop. Like we are hitting a barrier and bounce back. Nearly all days - up and down, up and down. I think it is too early to talk about recovering. When we will get at least few days with such swings, only then we might start talking about recovery.

[STT]

My latest thought is that on weekly bars we are seemingly breaking down some, till it proves me wrong and can break this latest pattern of lower highs then I assume we do cross 56k to lose the higher price action first established around year start.   Doesnt have to be forever but a trading break and revision of lower prices seems more probable for now.
  Of course to hold this area this week at least, break upwards is similarly bullish if we can achieve that much (call me when its over 60k).  Even then I expect us to remain in a trading range for the remainder of this year.

[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?

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.

I also think so, usually bitcoin will experience a big correction at the end of the year and it takes quite a long time to recover, but this year is a little different from previous years, where bitcoin reached ATH only twice this year and was even able to maintain a fairly decent price old, the correction that occurred in the last few days, must be used by investors to buy bitcoin, they will make the end of the year really beyond the predictions of many people and I believe bitcoin will reach the highest price this year.

[barbara44]

Reaching to 58k and so forth with other crypto as well seems like a good recovery. We should not be getting too hyped just yet. I believe that we should be doing a lot better in the long run, and I believe that we could be even 100k+ in a year at most, but just because we had a little increase right now doesn't mean it changes anything.

I believe that we should be doing something much better but at the same time I believe that it may take some time as well. Maybe this December will be a recovery month and we will have plenty of people making a big profit, or maybe it will not be profitable at all and it will go down, just because we had a small recovery right now doesn't change a thing.

[chikading2016]

Bitcoin always recover from the dip, I've been in crypto since 2017 and I also experience dip and huge correction of btc price that time when I was still a newbie in crypto I am easily get panic and sell my assets then i sometimes loss a huge amount of capital and profit. For now I am not afraid of dip because I know that Bitcoin will surely recover and now I slowly believe that btc is the future.

[Kasabus]

Bitcoin always recover from the dip, I've been in crypto since 2017 and I also experience dip and huge correction of btc price that time when I was still a newbie in crypto I am easily get panic and sell my assets then i sometimes loss a huge amount of capital and profit. For now I am not afraid of dip because I know that Bitcoin will surely recover and now I slowly believe that btc is the future.

No matter how long the dips, bitcoin will always rebound back to its high value. Bitcoin price is definitely starting to recover now from $53k-$57k and it might be the next step will be surpassing its $60k resistance level. Although the market seems so unpredictable but when it comes to bitcoin, we already know that its value will not stay in dump, but it always bounce back again so it could reach another bullish value. Probably those who bought bitcoin when it was below $55k are already in profits today.

[Chato1977]

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?

but that's the last hype because right after that ? the price went down again to 56k and now staying at 57k to be specific.

lets not look to the partial increase because this happens constantly last November , but what we wanted to see is how long will we take that 70,000 price? in which almost broken recently .