The analysis discusses Bitcoin's current position, highlighting that it is still holding support, with a marginally lower low forming a nearly double bottom structure. Technically, the requirements for wave C to the downside (white count) or wave three to the downside (orange scenario) are fulfilled. The analysis suggests that if Bitcoin bounces from the current level, it could lead to one more low for a full downside impulse in the orange scenario, potentially confirming a top in wave B. This scenario could open the door to a decline towards the 100k to 102k range. The analyst notes that with only a three-wave move to the downside, the door to higher prices technically remains open, highlighting some bullish setups that haven't been invalidated. If Bitcoin can hold the current support area, these bullish setups might play out.