BTC – Potential for Stronger Recovery

Since last week, Bitcoin has been caught inside a parallel channel on the 15 minute chart that is making lower lows and lower highs.  Bitcoin is currently holding the support level of $47322, where it dropped to yesterday. A breakout from a channel like this can be Bullish and trigger the price rally up to $54,000, the December 03rd close. Near term support continues to be at Dec 6th low near $47,111