Bitcoin Price (BTC) Testing Crucial Support: Can The Bulls Stage Recovery?

Bitcoin price declined sharply below the $12,000 support area against the US Dollar.
The price traded close to the $11,000 support and it is currently consolidating losses.
There is a key bearish trend line forming with resistance near $11,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could either recover above $11,400 or it might extend losses below the $11,000 support.Bitcoin price reached the key $11,000 support area against the US Dollar. BTC is currently co