The analysis suggests that despite a recent break below a swing low from September at $107,500, the analyst is still tracking for lower prices in the short term, identifying a resistance area between $107,355 and $109,740.The analyst notes that the downward move doesn't seem impulsive and the structure can easily morph. The analyst looks at the 55 week EMA at 98000, which if broken, it means the bear market can't be confirmed but becomes more probable. The analyst presents two scenarios: one where the pullback is a C wave down in a diagonal and another more bullish one, if BTC breaks above 109740 resistance, the analyst is going to look for higher again and targeting 136522.