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.
@Vaculin no one can totally understand the market and we can only make predictions footing the old momentum which may or may not happen.
@Wawa2013 I can't recommend taking profit now for others but only advise them because every investor/holder have their own plan just how you plan to hold some of your BTC for long term and the last time it not yet the time for the bullish trend to end. However, people need to do their own research and also make their own decisions cause the market can be unpredictable sometime.