The analysis indicates a focus on Bitcoin's price movements using Elliott Wave theory, specifically identifying the current market phase as a corrective Wave 4. The speaker suggests that Wave 4 is likely unfolding as a complex three-wave structure, potentially a WXY pattern. Previous attempts to achieve higher price confirmation around the 97,903.36 (0.786 Fibonacci) and 99,061.02 (0.886 Fibonacci) levels failed to materialize, indicating a lack of impulsive strength. Consequently, the immediate expectation is for Bitcoin to decline further to test the Fibonacci retracement levels for Wave 4, specifically targeting the range between 94,511.01 (0.382 Fibonacci) and 93,468.74 (0.5 Fibonacci). The analysis uses an indicator that has provided 'Double Signals Bearish,' further supporting the expectation for lower prices. The reference point for a bullish signal has also been invalidated, reinforcing the current bearish outlook for the short term. The prediction is to re-evaluate the market after the price tests the lower target area, contingent on observing renewed strength. The failure to surpass the 99,061.02 level acts as a key invalidation point for the current bearish corrective phase.