The analysis focuses on Bitcoin's daily timeframe, noting a quiet week following a rally to the 115425-120400 resistance area. A reaction was expected, and the nature of this reaction is analyzed. Two scenarios are considered: an orange scenario leading to a C wave down towards lower support, or a blue scenario with a potential third wave to the upside. From pivot to pivot and from resistance to support, the decision point is around 101569. The orange scenario with a C wave down becomes more likely. A five-wave move down should be seen for the orange scenario. If the market moves in corrective patterns levels of support and resistance are used. Breaking above $114000 would shift focus to a green line with $116230 target. A 3 wave move up can be a B wave, and is considered a warning.