The analysis examines the Bitcoin market, which is currently hovering around the 61.8% retracement level. It notes that the market is holding above the Friday swing low, maintaining both wave counts under consideration. Key confirmation for a bearish shift would be a five-wave move down, followed by a corrective three-wave rally. A break below the 114471 support would increase the probability of a more substantial top formation. Until this support is broken, the possibility of a B-wave bounce towards a resistance area around 121000 remains. The higher the B-wave, the more aligned it would be with the still-bullish overall thesis and it has three Fibonacci levels that are still relevant for the current setup, 116930, 116460 and the 114471 support. The analysis also mentions a bullish divergence on the one-hour chart's RSI.