The analysis focuses on Bitcoin's price movements using Elliott Wave theory, Fibonacci extensions, and channeling on a daily timeframe. It identifies a completed five-wave bull run (Wave 1) and projects a subsequent three-wave corrective pattern (ABC expanding flat) for Wave 2. The primary immediate target for the bearish Wave C is between 74,554.29 and 67,914.99, specifically highlighting 67,914.99 as a key 1.618 Fibonacci extension and minimum requirement for Wave 2, in confluence with the 0.382 Fibonacci retracement. The price has recently broken below its prior base channel, indicating a prevailing downtrend, and is currently navigating a new, steeper bearish channel. Indicators suggest continued downward pressure, with double rejections from previous resistance levels. Should the price fall below the new channel's midline, a further drop into an acceleration channel, potentially forming a 3-4-5 impulse, is anticipated. Conversely, a push above the current resistance at 99,477.13 would invalidate the immediate bearish impulse, potentially leading to a renewed upward movement. Long-term bullish scenarios are also discussed, projecting Bitcoin beyond 200,000 following the completion of Wave 2, effectively acting as a 'reset button.' However, the immediate outlook is characterized by complex, overlapping, and corrective structures across various micro-timeframes, suggesting a diagonal movement rather than a straightforward impulse. Caution is advised due to persistent top-side pressure and the complex nature of the current market dynamics, which may require extended consolidation.