Think Before Investing: 4 Hour Bitcoin Technical overview

Hi Bitcoin Lovers !!

A couple of days back I have submitted my technical view about Bitcoin by weekly closing. I was expecting a bearish move for next few weeks in Bitcoin movement.
The price is still under the range, and I am still expecting a bearish move technically, Today I am sharing my update analysis to give better and close overview using 4 Hour Bitcoin chart.
My weekly analysis and targets are still same as per my previous post,

4 Hour Bitcoin Technical overview

Bitcoin is moving in a range between 16500 and 12795 in 4-hour time frame chart. So we will look for these levels to get the earliest signal to ride or exit.
If we look more closely, Bitcoin price is also forming a symmetric triangle formation. Whenever we find asymmetric triangle movement in any currency pair, it simply means the buyer and seller are in confusion, and they are taking positions and exit position after specific movement. Symmetric triangle range is creating a higher low, and lower high in a range and triangle is getting narrow.
It means whenever price will direction either upside or downside, it may give a big boost towards any side.
The upside minimum target is 16500 as per 4-hour chart, and the minimum downside target is 12795 which is the range bound support.

I am expecting a downside movement because weekly chart already gave us the earliest signal for downside move because of a bearish engulfing candle. We just need to look for confirmation.The downside movement will confirm once the price will break and close below the symmetric triangle range. I have mentioned in the attached chart.
The longer-term bearish targets are still the same which is minimum 10953 and maximum around 8800 level.

Invalidation: If price moves up, break and close above the resistance level 16500, it will invalidate my 4-hour view and could take bitcoin again to the resistance level around 19000. But the chances are very low to this scenario.

Please have a look at 4-Hour Chart, I am uploading it to this post.

Those who have not read my previous weekly analysis can search in the group.

Note: Always trade wisely and never invest more than 2% of your capital in any single trade.
Wish you good luck and happy trading