Bitcoin Price Prints Bearish Technical Pattern, Why It Could Revisit $27.2K

Bitcoin price is moving lower below $29,000. BTC could extend losses below $28,000 and revisit the $27,200 support zone in the near term.

Bitcoin remained in a bearish zone below the $29,500 support zone.
The price is trading below $29,000 and the 100 hourly Simple moving average.
There is a major bearish trend line forming with resistance near $28,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move down if it breaks the $28,000 support zone.