Bitcoin (BTC) Price Bearish Breakdown Looks Real, $7,500 Next?

Bitcoin price is back in a downtrend with a close below the $8,000 support against the US Dollar.
The price is trading below the $8,000 support and remains at a risk of more losses below $7,800.
Yesterday’s highlighted major declining channel was breached with support near $8,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could correct in the short term, but the $8,020 and $8,100 resistances are likely to prevent gains.Bitcoin price is declining and trading