The analysis assesses Bitcoin using Elliot Wave theory and volume profile. It identifies potential support zones between $106,500 and $100,000, noting previous swing lows and a 38.2% retracement level. Volume profile indicates spikes at these levels, suggesting possible areas for price deceleration. A previous fast upward price movement lacked volume support, contributing to a quick decline. The analyst suggests a potential bounce around $106,500, but this does not mean the end of the correction, and a five-wave move down warns of lower levels. The primary focus is on potential bounces within the current correction and a watch for the 112173 level, while invalidation of this assessment would happen if the price reaches 105054.