Bitcoin Price Rejects $18K, Why There is Risk of Another Drop To $16K

Bitcoin price recovered over $1,500 and climbed above $17,500. BTC failed to clear the $18,000 resistance and started a fresh decline.Bitcoin started a recovery wave above the $17,000 and $17,200 resistance levels.
The price is trading below $18,500 and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $16,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could resume its decline if there is a close below the $16,750 sup