Bitcoin (BTC) Price Weekly Forecast: Bears Remain In Full Control

There was a steady decline in bitcoin below the $8,500 support against the US Dollar.
The price is following a bearish path and it is facing many hurdles near $8,200 and $8,500.
There is a key declining channel forming with resistance near $8,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The price could extend its decline towards the $7,850 support area before it could start a recovery.Bitcoin price is declining and is trading in a bearish zone below $8,500 against the U