Bitcoin (BTC) Hesitates But Further Gains Seem Likely

Bitcoin price is consolidating gains above the key $7,000 support area against the US Dollar.
The price could dip towards the $6,960 support before it starts a fresh increase.
There is a short term contracting triangle forming with resistance near $7,135 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The bulls need to gain pace above $7,135 and $7,240 to start another increase towards $7,500.Bitcoin price is trading in a bullish zone above $7,000 and $6,960 against the US Doll