Bitcoin Price Watch: BTC/USD Forming Breakout Pattern Above $6,600

Key PointsBitcoin price is trading in a contracting range with support above the $6,600 level against the US Dollar.
There is a major contracting triangle in place with resistance around $6,740 level on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to make the next move either above $6,750 or below $6,600 in the near term.Bitcoin price is trading in a positive zone above $6,610 against the US Dollar. BTC/USD is preparing for the next move either above $6,750 or