Bitcoin's price began a downward correction against the US Dollar at $54,900. Over the $62,500 and $62,000 stages, Bitcoin is showing signs of power. On the hourly chart of the BTC/USD pair, a primary contracting triangle is forming with resistance near $63,700. If the price continues to rise, it could reach $65,000, and any more gains could lead to a jump to $66,500. If bitcoin fails to rise above $63.700 and $64,000, it can experience another downturn.