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The analysis focuses on Bitcoin (BTCUSDT) and the Nasdaq index (NDX), suggesting a bearish outlook for both assets. Bitcoin is seen as being under pressure, working on a corrective bounce, with a potential target of 70,000 and a failure bound at 79,500. The Nasdaq has also corrected, with a 12% drop from its October high, and the analyst is not convinced that a significant bottom has formed. The analysis suggests that if Bitcoin breaks below support around 74,500-75,000, it could lead to a sharper decline. The current wave structure for Bitcoin is viewed as a corrective pattern, with the possibility of further upward movement within the correction before a potential decline. However, the analyst expresses caution about predicting a move to all-time highs for Bitcoin in the short term, given the similarities to previous market corrections. The Nasdaq's recent performance, including a 12% correction and a break below key support levels, is also highlighted as a sign of potential weakness.