$BTC 12.06 Bitcoin price today:

Currently, Bitcoin is hovering around 89,300, having officially broken through the 90,000 support level that we emphasized yesterday. This break means that the previous possibility of wave 4 following a zigzag pattern and a false breakout has been eliminated. The structure is now returning to the most standard and direct model.
Since the drop from 126,272, our entire large structure remains unchanged, which is a completed 5-wave decline to finish wave c. Currently, Bitcoin is in the wave 4 recovery phase of these 5 waves. After wave 4 completes, the main declining wave 5 will begin; this trend has never changed. Now, we are just waiting for it to break one more low to confirm that wave 4 has ended, then wait for a rebound to the 92,000 area to enter a wave 5 sell order. The target for wave 5 is to break the previous low of 80,000.
In summary, wave 4 is likely completed; if a lower low forms on the smaller time frame, you can wait for a rebound to around 91,000 to enter a wave 5 short position.