A close look at chart H4 provides us with a strong downtrend of the Bitcoin price with the formation of the inverted cup and handle pattern. The cup handle was formed when the price closed below the level of the right cup rim and retraced nearly 33% of the right cup height. These identifications affirm the establishment of the pattern and the cryptocurrency price is hovering around the strong support line. If the downward breakout takes place, the Bitcoin price is forecast to fall to the target price of $5495 in the short term.