The analysis focuses on the shorter timeframe for Bitcoin, noting no significant changes in the bigger picture. The ongoing correction is still unfolding, and a low has not yet been confirmed due to the absence of any micro 5-wave move up. Although there was a chance for a bounce around the 116000 range, it was only for a corrective bounce, not a full-scale upside reversal. The price recently hit a structural support level around 107000, leading to a bounce, but the analyst remains unconvinced of a full-scale upside reversal. The target price can be inferred close to 100000 and the invalidation bound around 110000.