Bitcoin (BTC) Price Watch: Bears Defend Channel Resistance

Bitcoin Price Key HighlightsBitcoin price continues to trend lower as it bounced off the top of the channel on the 1-hour time frame.
A continuation of the slide could take it down to the Fibonacci extension levels.
There are some signs of bearish exhaustion from technical indicators, though.Bitcoin price looks ready to resume the drop after bouncing off resistance, but there are signs of bearish exhaustion.
Technical Indicators Signals
The 100 SMA is below the longer-term 200 SMA to confirm tha