Bitcoin Price (BTC) Decline Far From Over, Bears Eye $7.5K

Bitcoin price is down more than 12% and it recently broke the $8,500 support against the US Dollar.
The price is currently correcting higher, but the $8,750 and $8,800 levels are preventing recovery.
There is a crucial bearish trend line forming with resistance near $9,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is likely to resume its decline as long as it is below $8,750 and $9,000.Bitcoin price nosedived below $9,000 and tested $8,050 against the US Dollar.