The analysis focuses on the Bitcoin price movement. The price experienced resistance and then established support. Following this, the market rallied upwards, reaching approximately 117,600 to 117,700. Currently, the price is retracing downwards. A support level has been identified, and the market hasn't reached it yet. If the price descends to the identified support level, it is still viewed as a potential buying opportunity because of the identified trend line that Bitcoin's price appears to be following.