Bitcoin (BTC) Price Technical Bias Favors More Downsides

Bitcoin price is struggling to climb above the $11,500 and $11,600 resistances against the US Dollar.
The price is holding the key $11,200 support, but it remains at a risk of more downsides.
There are two key bearish trend lines forming with resistance near $11,400 and $11,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could decline heavily if there is a break below the $11,200 support area in the near term.Bitcoin price is showing bearish signs below $11,500 ag