The analysis of Bitcoin (BTCUSD) on the daily chart projects a bearish trend, consistent with an Elliott Wave ABC correction following a significant bull run. The current price is approximately 91,770 USD. The primary target for the completion of wave C, which corresponds to wave 2 of a larger degree, is identified at the 1.618 Fibonacci extension of wave A based on wave B, yielding a precise target of 67,922 USD. This level is also in confluence with the 0.382 Fibonacci retracement of the preceding wave 1. This bearish outlook is supported by observations of price action exiting an established base channel. A decisive move above the 99,677 USD level would invalidate this bearish analysis, suggesting a shift towards a more bullish or complex corrective structure. Conversely, a sustained drop below 90,972 USD would strengthen the short-term bearish conviction, potentially leading to the longer-term 67,922 USD target. The analysis also explores internal wave structures on 2-hour, 1-hour, and 15-minute charts, considering scenarios such as double zigzags (WXY) or leading diagonals, which further inform the anticipated downward trajectory toward the principal target.