The analysis centers on Bitcoin's price movements using Elliott Wave theory, Fibonacci retracements, and price channeling. The primary perspective indicates that a larger Wave 1 bull run has concluded, and the market is currently undergoing an ABC expanding flat correction for Wave 2. The main bearish target for this corrective Wave C is projected around the 1.618 Fibonacci extension, specifically at 67,994.99. A secondary target for this bearish impulse is identified at 1.38 Fibonacci extension at 74,554.29. The prevailing market sentiment is bearish, with a significant resistance zone noted from the interaction with the old and newly established base channels. An unusual push above the base channel's midline is observed, which could either be a deviation within the bearish trend or a precursor to an alternative pattern. Should the price surpass 123,485.83, the current bearish analysis would be invalidated. An alternative bearish scenario considers an ending diagonal formation, which would still converge on the 67,994.99 target. A bullish alternative, seen on micro-level charts (1H/2H), suggests that if the price breaks above 99,325.11, it could signal a rally towards 104,944.37, potentially initiating a new impulse wave or an extended bullish diagonal, but this remains a secondary, conditional outlook.