The analysis, focusing on Bitcoin's daily chart, notes a breakdown from a trend channel, with a reaction at the 61.8% retracement level ($117,454.66). The resistance area is holding, keeping the orange scenario (a potential drop to $101,569.85) alive. The analyst shows a roadmap for this orange scenario. In September, the market is expected to decline to $101-102k. However the analyst notes the bulls are still strong, so its not an easy path. The $112,460.89 to $109,477.45 level is immediate downside micro-support zone. The long-term bullish white scenario is not invalidated, an ending diagonal pattern to the downside could occur. Analyst is looking for five waves down or a break below $109,477. A break above $116,240 is a signal of bullishness.