Bitcoin Price Weekly Analysis: BTC/USD Could Correct Above $6,400

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Key PointsBitcoin price is slowly recovering slowly and steadily above the $6,100 level against the US Dollar.There was a break above a key bearish trend line with resistance at $6,220 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).The pair must stay above the $6,100 level to stay in the positive zone and recover higher.Bitcoin price declined heavily below $6,500 against the US Dollar. BTC/USD found support near $6,000 and is currently attempting an upside correction.Bitcoin Price ResistanceThis past week, there were heavy losses in bitcoin price from well above the $7,100 level against the US Dollar. The BTC/USD pair fell and broke many supports like $7,000, $6,830, $6,500 and $6,200. The price tested the $6,000 support zone where buyers appeared. A low was formed at $5,982 and later the price started an upside correction towards the $6,500 level.It broke the 23.6% Fib retracement level of the