The analysis suggests that Bitcoin is currently holding above the 113k level. A 23.6% Fibonacci retracement level is identified. The market cooled down slightly over the weekend after aggressive movement late Friday. According to Elliott Wave theory it is working on a Wave 4 correction with A, B, and C waves. The analysis considers a sideways consolidation or correction to be more probable given the aggressive Friday move. There is no confirmed major top yet, suggesting pullbacks are corrective three-wave structures. A fifth wave to the upside remains possible, potentially reaching 130k. If 5 waves down are seen followed by a corrective balance the analysis will be invalidated. The analyst is watching 112900 as a bound for bullish movement.