The analysis focuses on Bitcoin using Elliott Wave theory. It notes the recent market drop as confirmation of a bearish trend, suggesting a potential target of $74189.68 or even $67000.05. The price action invalidates bullish scenario if it surpasses $110679.68. In 4 hours chart it shows an ABC expanding flat for a potential target of $74189.68 or even $67000.05 and the price invalidates bullish scenario if it surpasses $110679.68. The daily analysis uses a channel to estimate potential movements, anticipating a decline towards $67000 to $74000 as strong support which could trigger a new rebound, but there is a bearish trend that can't be ignored on the channel. If BTC surpasses the 121 fib level the price would become 60% - 70% bullish to new highs, but currently chances are low. An ending diagonal also mentioned with potential for minor upside before continuing the downward trend. Micro-analysis showing small 1-2 pattern suggests ongoing potential decline. Current market seen as bearish.