Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $17K

Bitcoin price declined further and traded below $16,500. BTC is correcting losses, but it could struggle to climb above the $16,700 and $17,000 resistance levels.Bitcoin extended its decline below the $17,000 and $16,500 support levels.
The price is trading below $16,800 and the 100 hourly simple moving average.
There is a connecting bearish trend line forming with resistance near $16,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could resume its decline unless th