Bitcoin Price Watch: BTC/USD Correcting Gains

Key PointsBitcoin price started a downward correction after trading as high as $7,605 against the US Dollar.
There was a break below a key ascending channel with support at $7,420 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The BTC/USD pair may perhaps correct further lower towards the $7,200 and $7,120 support levels.Bitcoin price struggled near the $7,580 level against the US Dollar. BTC/USD is correcting lower, but it remains supported above the $7,100 level.
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