Bitcoin Weekly Forecast: BTC Won’t Go Quietly, Risk of Bounce Grows

After forming a base above $7,000, bitcoin price climbed above the $7,500 resistance against the US Dollar.
The price is currently correcting gains and it is trading below the $7,440 level.
There is a major contracting triangle forming with resistance near $7,520 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The price is likely to stay above the $7,220 support and it could rally above the $7,500 resistance.Bitcoin price is trading above a couple of important supports against