Bitcoin at Major Crossroads, Can Bulls Protect $7,000?

Bitcoin price is just holding the key $7,120 and $7,000 support levels against the US Dollar.
A bearish break below the $7,000 support could start a short term downtrend.
There are two bearish trend lines forming with resistance near $7,240 and $7,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to tumble if it struggle to recover above $7,400 in the coming sessions.Bitcoin price is struggling to stay above $7,120 and $7,000 supports against the US Dollar.