Bitcoin Price Watch: BTC Holds Bullish Bias Above $6,550

Key Points

Bitcoin price is consolidating above the $6,590 and $6,550 support levels against the US Dollar. There is a short-term declining channel in place with resistance at $6,720 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair has to surpass the $6,720 and $6,750 levels to move towards $6,850 and $6,900.

Bitcoin price settled above the $6,550 level against the US Dollar. BTC/USD must break the $6,720 resistance for an upward move toward $6,900 in the near...

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