The analysis reiterates a bearish outlook for Bitcoin, stemming from a Sunday livestream prediction two days prior. The initial expectation was a Monday price decline into support, followed by a bounce into resistance, and then a significant rejection leading to a breakdown below $100,000. While the Monday dump occurred as anticipated, the expected bounce into resistance did not materialize, with price continuing its downward trajectory. The presenter had previously taken a short position on Friday from a resistance level, but was stopped out due to choppy price action before the subsequent drop. On Sunday, a local resistance at 110,600, identified by an hourly imbalance, provided a perfect rejection for the significant Monday price decline, breaking crucial support. The current price is around $105,700, and the primary target remains $97,000, indicating a continued expectation for lower prices. Traders are advised against attempting to catch every low. The analysis outlines two potential scenarios: either price continues its direct descent towards the $97,000 target without significant bullish momentum, or it reclaims the daily open at approximately $106,970. A reclaim of the daily open would signal potential strength, leading to a long position targeting resistance around $112,800. However, even in this bullish rebound scenario, a subsequent rejection from this resistance is anticipated, leading to another break below the wick and a continued decline towards the $97,000 target. The speaker emphasizes preparedness for both scenarios, cautioning against a purely bearish stance if signs of strength emerge.