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The analysis identifies that Bitcoin has had three daily closes above the 50-day moving average. A long-legged doji at the top suggests a potential retest of structural support around $112000 and then 200-day and 21-day moving averages. The daily RSI shows lower highs but higher lows indicating hidden bearish divergence suggesting a move to oversold territory before a potential bounce. A loss of the 200-day moving average on the 3-day timeframe would lead to a retest of the $103-105k region; otherwise holding above the 50% Fibonacci retracement level is crucial to invalidate the downside. If a fib is drawn from April low to top it indicates if price holds the 50% Fibonacci at price approximately 112000, the downward trend would be invalidated. Altcoins are holding up relatively well, shifting the dynamic and decreasing the risk compared with previous corrections. S&P500 remains bullish holding above the 21-and 50-day moving averages and the analysis points out the formation of a potential wave 3 impulse.