The analysis suggests Bitcoin is still under downside pressure and is currently witnessing a five-wave decline. The analyst is uncertain whether the A-wave is unfolding or if the C-wave is starting with wave B already topped. Potential support levels were identified, including previous swing highs around 110300, and swing lows around 107400, 105230, and Fibonacci level 106510, 101570. Resistance for B wave is located between 114800 and 120780. As long as BTCUSD stays below the trend lines there's no sign of recovery. Target zone, if the wave C is unfolding, is in the larger support zone and should end around 100400.