The analysis discusses a recent correction in Bitcoin's price, which has led to concerns about the integrity of the bull market. Bitcoin needs to set a bottom above $107,000 to maintain confidence in a bullish October. The long-term uptrend for Bitcoin is identified at $88,000, Bitcoin could drop to $88,000-$90,000 and still be in a bull market. The analyst expects continued consolidation throughout 2026 with more increase in 3 to 6 months. He sees resistance and Fibonacci retracement acting as primary level determinants for investment with possible Elliot wave formation. The analysis indicates a rejection at the Fibonacci golden pocket could suggest a break of the $107,000 support level. The analyst also highlights that gold is extremely overbought, indicating a potential pullback.