The analysis focuses on Bitcoin's daily chart, indicating that the price is likely still consolidating. The analyst highlights the proximity to a major top, suggesting the possibility of it already being reached, but awaits a five-wave move down for confirmation. An ideal scenario would involve further upside extensions at a nano level. A five-wave decline, coupled with breaking the 112K level, would serve as a major warning, followed by a corrective bounce. Key structural support levels are anticipated around 107700, then 105550, and finally at 98300. The analyst expresses concerns about the micro level dips within a bullish market, adding details to the wave counts including possible alternative paths. It is said the exact structures are not as important as it would wait for 5-wave down to major confirmation.