The analysis focuses on Bitcoin's short-term chart using a one-hour timeframe. It highlights a yellow scenario which is still the leading scenario. The initial target for circle wave 3 is located around $98,350, nearly reached but missed by a few hundred dollars. This target aligns with a Fibonacci level. The analysis anticipates one or two more lows in circle wave 3. Breaking above resistances could indicate a more substantial low is already in place, which can trigger a larger recovery. The wave counts act as a roadmap, providing ideal targets and resistance parameters. The analysis suggests that if resistances are broken, it would be an indication of a potential return to a larger recovery and a substantial low having already formed.