Bitcoin (BTC) Price Looks Set For Another Breakdown

Bitcoin price is extending losses and it traded below the $8,640 support against the US Dollar.
The price is likely to decline further below the $8,560 and $8,500 support levels.
Morning’s short term breakout pattern was breached with support near $8,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The current price action suggests another breakdown below the $8,550 support area.Bitcoin price is declining below key supports against the US Dollar. BTC might tumble towar