Bitcoin Price Watch: BTC/USD at Risk of Upside Break above $6,540

Key PointsBitcoin price mostly traded in a range above the $6,300 support area against the US Dollar.There is a crucial breakout triangle pattern formed with resistance near $6,540 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair could dip a few points towards $6,380, but it is likely to break the triangle for more gains.Bitcoin price is positioned for the next move against the US Dollar. BTC/USD will most likely accelerate gains above the $6,540 and $6,620 levels in the near term.Bitcoin Price AnalysisAfter bitcoin price failed to break the $6,620 resistance against the US Dollar, it started consolidating. The BTC/USD pair mostly traded in a range above the $6,300 support area with swing moves. The last swing low was $6,302 before the price moved above $6,400 and the 100 hourly simple moving average. The price also broke the 50% Fib retracement level of the last

Like this article? Take a second to support us on Patreon!