The analysis focuses on Bitcoin's current struggle around the 61.8% Fibonacci retracement level, identifying it as a significant resistance. Historically, lows in August or September precede rallies towards new highs in Q4. The analysis suggests Q4 is when the crypto sector often forms major price tops. Currently, a bounce from September lows is being observed. A breakout above the upper boundary line is targeted, the analysis identifies $120,404 as the next resistance level. A five-wave decline from the current levels could signal a forming top. The video highlights $96,162 as a key support and the VRVP (Volume Profile Visible Range), with the point of control around $118,000. On the shorter time frame of 30m, the video suggests for the analysis to hold on this short time frame no break below $115,300 should occur to consider and upside to the next level $118,500