Bitcoin Price Could Avoid Another Downtrend if it Closes Above One Key Level

Bitcoin price extended its decline below the $17,000 level. BTC could avoid a major drop if it closes above the $17,000 resistance zone.Bitcoin remained in a bearish zone and traded below the $17,000 support.
The price is trading below $17,000 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $16,920 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is showing a few bearish signs below the $17,000 pivot level.Bitcoin