Bitcoin Price Watch: BTC/USD Signaling Bullish Continuation Towards $6,700

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Key PointsBitcoin price recovered nicely after forming a support base near $6,200 against the US Dollar.There was a break above a key contracting triangle with resistance at $6,375 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair may perhaps continue to move higher towards the $6,570 and $6,750 resistance levels.Bitcoin price is signaling more gains above $6,550 against the US Dollar. BTC/USD could accelerate once buyers gain momentum above $6,550-6,600.Bitcoin Price AnalysisYesterday, we saw a downside correction below the $6,300 level in bitcoin price against the US Dollar. The BTC/USD pair tested the $6,200 support where buyers emerged. The price formed a base near $6,200 and the 100 hourly simple moving average. Later, there was a fresh upward move and the price traded above $6,300 and $6,400. Moreover, there was a break above the 50% Fib retracement level of the last slide from the $6,650 high