Bitcoin Price Watch: BTC/USD Forming Double Bottom Near $6,220

Key PointsBitcoin price declined sharply and trimmed most of its yesterday’s gains against the US Dollar.
There was a break below a major bullish trend line with support at $6,570 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair revisited the $6,220 support area and later recovered above the $6,300 level.Bitcoin price declined sharply below $6,550 against the US Dollar. BTC/USD is forming a double bottom pattern near the $6,220 level.
Bitcoin Price Analysis
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