Bitcoin Price Signals Rejection and Poised To Start Another Decline

Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone.Bitcoin recovered higher above the $16,800 resistance zone.
The price is trading above $16,800 and the 100 hourly simple moving average.
There is a rising channel forming with resistance near $17,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could resume its decline unless there is a close above the $17,000 resistance zon