The analysis focuses on Bitcoin's price movement, observing higher highs and higher lows on the 1-hour timeframe, suggesting a potential upward trajectory. A Fibonacci retracement is drawn, indicating potential support levels. The analysis highlights that the price previously reached 120,000 after hitting an all time high but fell. It also dropped to a support level around 111900. The current support level is noted at 116000. The overall market trend suggests that the market will continue to move upward toward the 119000 mark.