Bitcoin is reacting to a 1-2 setup discussed earlier. There's a risk for a 1-2 setup that could send the price into a blue target zone between 111,350 and 113,130. No changes from the previous analysis, but the current pullback is identified as a B wave instead of wave 4. After Monday's rejection at the 61.8% retracement level (115,883), a corrective three-wave move down was observed. A chance to form a new high from the CME gap support failed. The speaker now sees a five-wave move down, though not perfectly formed. A CME gap exists, which is expected to be closed, potentially requiring a move down to around 111,170. This aligns with Fibonacci support around 111,420. The 21-week exponential moving average around 111,600 is also being tested. The speaker anticipates potential downside pressure or sideways consolidation until tomorrow, with increased volatility due to the Fed interest rate decision and earnings reports from stock companies, possibly impacting crypto via the Nasdaq.