Bitcoin Price Watch: BTC/USD Hesitates, But Further Gains Possible

Key Points Bitcoin price corrected higher and moved above the $6,350 resistance against the US Dollar. There is a key ascending channel forming with support at $6,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is facing a couple of important resistances near the $6,630 and $6,680 levels.

Bitcoin price is slowly rebounding from $6,200 against the US Dollar. BTC/USD must clear the $6,680 resistance and the 100 hourly SMA to gain bullish momentum.

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