Bitcoin manages to <a href="https://www.ccn.com/bitcoin-halving-2019-price-recovery/">start the month of September</a> on the right foot, hand in hand with a slight recovery that makes many think in the ecosystem that we will soon see it back at the five-digit price and that the worst is over.

It has begun the last month of the third quarter of 2019 and Bitcoin already begins to show symptoms of changing the downward trend with which ended the month of August after fighting unsuccessfully not to lower the five-figure psychological barrier.

At the time of writing the market has shown signs of recovery in its total capitalization with a positive change of +0.8% reaching the figure of just over 255 billion dollars with a domain of the main cryptographic asset of 68.6%, which suggests a descent of its domain to accommodate the altcoins season after failing to successfully pass the level of 70 percent.

<img class="aligncenter" src="https://i2.wp.com/criptotendencia.com/wp-content/uploads/2019/09/capitalizacion-de-mercado-ultimo-a%C3%B1o.png?w=660&amp;ssl=1" />

Bitcoin trades during the writing of this post for $9,893 (+3.03%), after lowering its volatility to moderate and reaching an overbought RSI above 80.

<img class="aligncenter" src="https://i2.wp.com/criptotendencia.com/wp-content/uploads/2019/09/capitalizacion-de-mercado-ultimo-a%C3%B1o-2.png?w=660&amp;ssl=1" alt="CotizaciÃ³n del Bitcoin 02 de septiembre 2019" />
Bitcoin price quote September 02, 2019
In the short term on the 1H chart for Bitcoin, we see a slight recovery after dropping sharply below 10k this past August 29, 2019, and spending the weekend at crucial support levels of $9500.

<img class="aligncenter" src="https://i0.wp.com/criptotendencia.com/wp-content/uploads/2019/09/capitalizacion-de-mercado-ultimo-a%C3%B1o-3.png?w=660&amp;ssl=1" alt="GrÃ¡fica del Bitcoin de 1 hora" />
1 Hour Bitcoin Chart
Bitcoin has breached the upper Bollinger band on a couple of occasions as it began its recovery and currently, its crucial support resides at the mid-wide-cloud level of $9661.67 and remains in the fight to definitively break the immediate resistance of $9825.99 which represents the upper Bollinger limit.

Parabolic SAR is bullish by drawing broad points under Bitcoin candles in the last 12 hours.

Stochastic confirms the bullish momentum of BTC price recovery as it peers into the oversold zone with a value above 80.

In the medium term, the BTC <a href="https://www.cryptoknowmics.com/crypto/is-bitcoin-bearish-short-term-btc-price-technical-analysis/">price</a> is attractive as it has not dropped sharply on this chart and maintains an Elliot momentum wave that many expect to end up again above the psychological barrier of 10k.

<img class="aligncenter" src="https://i1.wp.com/criptotendencia.com/wp-content/uploads/2019/09/capitalizacion-de-mercado-ultimo-a%C3%B1o-4.png?w=660&amp;ssl=1" alt="AnÃ¡lisis grÃ¡fica del Bitcoin a mediano plazo" />

The relative strength index barely manages to show itself in the limit zone of buying and selling for this time frame, which indicates the possibility that BTC will fade in its impulse, by the little pressure of the bulls.

Awesome Oscillator continues to be negative with increasingly pronounced red histograms, pointing out that in the medium term the main asset may descend again to levels below 9.5k as many analysts foresee even to the 8k zone.

Aroon, on the other hand, is quite pessimistic with his bearish indicator at the top of the chart, although he gives a slight hope with his inclination to the bottom but with a long way to go.

To conclude, Bitcoin has not had a positive close in July and August 2019, which presumes an adverse reaction to a short-term improvement, but a possible green candle this month would break that pattern. While the release of Bakkt is good news for BTC, it all depends on the market prices between Bakkt and investors that presume an increase in volume before pulling the trigger.

Bitcoin starts recovery at the beginning September 2019

I am an industrial engineer specializing in blockchain. Enthusiast of cryptocurrencies and writing the latest news regarding the Crypto world.

Bitcoin starts recovery at the beginning September 2019

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