TA: Bitcoin Breaks $30K, Why This Could Turn Into Larger Downtrend

Bitcoin failed to recover above $32,000 against the US Dollar. BTC is gaining bearish momentum and trading below the key $30,000 support zone.Bitcoin started a fresh decline and traded below the key $30,000 support zone.
The price is now trading below $30,000 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $31,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might accelerate lower below the $27,500 and $27,000