The analysis uses Elliott Wave to predict Bitcoin's price movement. It considers corrective waves and notes wave four interference with wave one, suggesting a lack of impulse. It suggests a double one-two formation remains a possibility, with a corrective upward movement towards the 0.382 Fibonacci level around 112000. The presenter highlights Bitcoin remaining inside a channel, not breaking the downtrend momentum. It suggests a potential WXY formation, with the possibility to reach 113000 before a continuation towards downside. The presenter concludes remaining bearish. It emphasizes the need for confirmation with five waves up and three waves down before considering a bullish trend.