The analysis discusses Bitcoin's recent breakdown from an ascending wedge formation, noting that the 113,000 support did not hold. Bitcoin is currently in free fall. The support is coming from other charts like the Total Crypto Market Cap, but not from Bitcoin. Important support levels are 118,000 as the level to pass as soon as possible and not getting below 107,000. Bitcoin has rejected from the ascending wedge and is currently testing a yellow line. The 100 exponential moving average may provide support. The analyst remains macro bullish, trusting the cycle. The short-term chart shows weakness. Ethereum had a breakdown today. Total 3 (Altcoin Market Cap) seems to be holding a support zone but the analyst is concerned about the growing uncertainty. The SP500 may be forming a blow off top.