The analysis discusses Bitcoin, highlighting its current price around 111328. A local bottom is believed to be forming. The analyst pinpoints 110,000 as a key support level, noting that while price action in the short term is very volatile, he expects the price will hold this level. Retesting the 110,000 support has been done with considerable volume. Spot buying is occurring while long positions are closed and mentions a potential rally up to 114500 (30 day rolling VWAP). The analyst indicates an upward trajectory into 117000 and 118000.