Bullish signals invalidated - expecting more downside

The current situation:

1. Price action previously formed a double bottom on the 4HR chart, but once it got to the neckline at about 124 USD, it was rejected and apparently does not have the strength to break out. Currently, it looks more like a double top with a measured move of 110 USD from the neckline at about 117 USD.

2. There was bullish divergence on the 4HR chart, but that did not seem to have played out strong enough to get above the double-bottom neckline.

The bullish case: price action retries and breaks the double-bottom neckline towards and goes towards the measured target of about 132 USD

The bearish case: price action breaks below the double-top neckline and goes toward the measured target of 110 USD

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*Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
*These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.