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Bulls Beware: Bitcoin Could Dive After This Key Technical Breakdown

Bitcoin is showing a few bearish signs below the $7,400 resistance area against the US Dollar. BTC price is currently declining and it could extend its weakness towards $7,100 or $6,800.

 ▪ Bitcoin is struggling to clear the $7,400 and $7,500 resistance levels against the US Dollar.
 ▪ The bears are slowly taking control and they are likely aiming a test of $7,000.
 ▪ There was a break below a crucial bullish trend line with support near $7,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
 ▪ The pair could correct sharply towards the $7,100 support or $6,800.

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