Bitcoin Price Makes Strong Recovery, Bulls Eye Explosive Upside Move

The Bitcoin price has recovered from a brief drop to around $75K on Tuesday, and is now firmly back inside its bullish flag.

The recent move may have weakened some of the weaker hands, which could be a positive sign for Bitcoin's future.

According to TradingView, what's needed now for a continuation of this bullish price action is for a higher high to be made, followed by a higher low. This would reverse the downward trend in force since early September and enable the $BTC price to rise back to the top of the channel.

The daily chart reinforces the once more bullish case for the $BTC price, showing a bull flag structure on top of a major rally up through the bear market trendline.