Bitcoin Price Watch: BTC/USD’s Resistance Turned Support

Key PointsBitcoin price climbed further higher and tested the $7,400 resistance area against the US Dollar.
There is a major ascending channel in place with support at $7,290 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could dip a few points, but the previous resistance near $7,300-25 is likely to hold losses.Bitcoin price traded to a new weekly high near $7,405 against the US Dollar. BTC/USD is correcting lower, but dips near $7,290 and $7,325 remain supported.
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