The analysis indicates that Bitcoin has been rejected from a resistance area and continues to move within an overall range. The analyst suggests that breaking below micro support levels increases the probability of a top formation, potentially leading to a target area around the 70k level. Reaching the 100% extension on the C wave was not fulfilled. While the ABC pattern suggests a potential three-wave move up, the analyst remains cautious about alternative scenarios. He maintains that the orange bearish scenario, with a target of 70k, is still valid and even further confirmed by today's rejection. The support zone is between 85973 and 88891, and the analyst is also watching previous swing lows for support. Analyst expects dip to 70k, if 5 waves do not form from support zone. If there is a 5 wave move up from current support we could see bullish trend.