Bitcoin Price Watch: BTC Broke Key Support, Could Test $6,275

Key PointsBitcoin price failed to hold the key support at $6,590 and declined below $6,500 against the US Dollar.
There was a break below a bearish pattern with support at $6,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is under pressure and it seems like it could continue to move down towards the $6,380 and $6,275 levels.Bitcoin price failed to hold the $6,600 and $6,590 supports against the US Dollar. BTC/USD is likely to extend declines towards the next suppor