Bitcoin Price Grinds Lower, Why The Bears Are Not Done Yet

Bitcoin price is slowly moving lower towards $15,500. BTC remains at a risk of more losses unless it settles above the $17,000 resistance zone.Bitcoin started a fresh decline below the $16,500 and $16,400 levels.
The price is trading below $16,500 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $16,390 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a decent increase if there is a move above the $16,50