Bitcoin (BTC) Price Approaching Key Support, Bears Back In Action

Bitcoin price is declining after it failed to climb above the key $8,300 resistance against the US Dollar.
The price is under pressure and it is now trading below the $8,000 support area.
There was a break below a connecting bullish trend line with support near $8,080 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is approaching a major support area near $7,800, below which there could be a sharp decline.Bitcoin price is facing a fresh increase in selling pressure be