The analysis indicates that Bitcoin is currently under pressure but remains in an overall uptrend, holding above support levels on the daily chart, suggesting a possible wave four formation. Fibonacci support zone is identified using Elliott Wave patterns. The analyst emphasizes monitoring relevant pivots to assess scenario probabilities. The crucial support level to hold is $101569 to maintain the bullish thesis. The analyst suggests on the weekly chart BTCUSD is in a topping zone with risk elevated. A 5-wave move down has not occurred which the analyst notes would provide evidence for a top formation. Small time-frame micro-movements are to be watched for early price top signals. Further decline can reach 74k for bear market total conformation.