Bitcoin's price has corrected lower against the US Dollar since failing to continue higher above $60,800. BTC is now keeping profits, and unless it breaks below the 100 hourly SMA, it is likely to rally above $61,000. Price is now trading above $59,000, which is also the 50% Fib retracement stage of the upward advance from $58,025 to £60,677. On the hourly chart of the BTC/USD pair, a major contracting triangle is forming with resistance around $60,050.