The speaker analyzes Bitcoin's recent market behavior and provides a bullish outlook. Bitcoin declined to $107,000 and then rallied to $116,000. However, trading slowed over the weekend with some correction in price, but he argues that these declines are part of a mid-cycle correction. He analyzes multiple timeframes on the chart from 1H to 1D and shows that the visible range volume profile indicates short-term point of control for Bitcoin is around $114,000. The analysis has also shown that bitcoin has had bullish confirmation of the MACD, RSI, and is forming inverse head and shoulder patterns which gives a near-term price target of $120,000 to $127,000. There is a possibility of going higher, potentially reaching $130,000 or even $150,000 after the next three to four months. The Fed rate cut coming on Wednesday will push up all markets and crash the dollar currency index, therefore Bitcoin, along with S&P500 and Gold markets, will likely rally.