The analysis focuses on a shorter timeframe for BTCUSD. A three-wave pullback into support has been observed, holding at the 50% Fibonacci retracement level. To keep the orange scenario alive, the price should ideally start moving up from the current level to initiate wave 5 of 3. Possible targets include 117611.36, with potential consolidation before moving to 122000 to 124000. Support levels identified include an upper micro support, the CME gap around 111170 to 113440, and the 21-week exponential moving average around 111600. If support is broken, this formation can’t be called a impulse anymore. A key spot for Bitcoin is holding this level to move higher.