Bitcoin Price Nosedives Below Support As Bears Target $25K

Bitcoin price is down 5% and trading below the $26,000 level. BTC is now at risk of a move toward the $25,000 support in the near term.Bitcoin started a sharp decline below the $27,000 level.
The price is trading below $26,500 and the 100 hourly Simple moving average.
There is a connecting bearish trend line forming with resistance near $26,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could correct higher but upsides might be limited above $26,200 and $26,400.Bit