TA: Bitcoin Turns Red, Why BTC Could Dive Below $39K

Bitcoin started another decline below the $40,000 level against the US Dollar. BTC could extend losses if it stays below the $40,000 resistance zone.Bitcoin started another decline after it failed to clear the $40,000 resistance zone.
The price is now trading below $39,500 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $39,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a major decline if there is