$BTC Bitcoin started a fresh decline below the $106,500 and $105,500 levels.

The price is trading below $106,500 and the 100 hourly Simple moving average.

There is a key bearish trend line forming with resistance at $106,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could start a fresh recovery wave if it clears the $105,500 resistance zone.