The analysis suggests Bitcoin is forming a low within a support zone and attempting to break above a descending yellow trend line. The analysis tracks a 1-2 setup targeting the upside. A corrective pullback with a structure is in question. A move to the upside appears to be a five-wave move up potentially indicating a leading diagonal suggesting an uptrend from the August low around 112k. After a five-wave move up, a three-wave corrective pullback occurred. The analysis states that the price should not break below the 78.6 retracement level.