i think bitcoin now is stable in $12xx, its up and down in that range. i agree that btc is really strong to comeback and show its power depend on what news said and no matter other say, btc is always lead the market. its already makes us happy to see this price but suddenly for traders which trade btc-altcoin, this is makes them very sad because the price is down when btc price is up.
Personally, I wouldn't have said that bitcoin is recovering, because price levels about 1200 US dollars per 1 bitcoin are pretty high in the bitcoin history.
That is why we dont talk about recovery, but instead we say that bitcoin is making new highs.
I still can see many people saying that bitcoin is dying, but as we can see it has very good price right now, I think that is just the beginning.