I'm becoming more positive the way bitcoin recovered after it hit $6,400.
Are you referring to what appears to be a sharp V bottom? I would be a bit more confident if we find our way back up closer to $8000 and stay there, but the ~$7300 level is so crucial that it keeps lifting the price up when it drops below it, and drags it back down when it goes too far above it. Almost like a magnet.
If the price has bottomed out, the part that follows afterwards is something people hate a lot, which is boring sideways price action. This sideways price action can drag on for months. It might even trigger some investors to dump their bags out of boredom, but that's a good thing because there will be less selling pressure on the way up.
Likely.
I have lowered my standards for the price so that whenever we hit a new bottom that's the price that I'll rely if I'm getting some profit or continue to hold. Looking at my lowered price standard makes me no worry if we see the price pump and goes down a bit again.
It is struggling to hit $7,600 and this attitude is of the same pattern that we've seen before. IMO, there might be a quick follow up pump.