TA: Bitcoin Price Resumes Decline, Why BTC Remains At Risk

Bitcoin spiked below the key $28,500 support zone against the US Dollar. BTC is declining and might continue to move down towards the $27,500 support.Bitcoin is moving lower and facing a major resistance near the $29,600 zone.
The price is now trading below the $29,000 level and the 100 hourly simple moving average.
There is a major bearish trend line forming with resistance near $29,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move down if it s