The analysis begins with BTCUSDT at $119,100 on August 12th. The analyst believes the price will move lower, though acknowledges the potential for new all-time highs. The analysis focuses on long and short positions from the last 24 hours, noting a recent increase in longs, concentrated around 119000, possibly up to 121500 before dropping, with cumulative short liquidations at $2.8 billion around $122182. He explains that liquidating the longs is needed before new all time highs. The timeframe is short-term, looking to the next week. Resistance is found around 119700. The trend is that he needs it to find resistance to move lower.