Bitcoin started a fresh decline from the $64,550 resistance level.

The price is trading below $63,500 and the 100 hourly Simple moving average.

There is a connecting bearish trend line forming with resistance at $63,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).

• The pair could extend losses if there is a clear move below the $62,700 and $62,500 support levels.