The analysis discusses Bitcoin's current market position, noting it has gained 96% over the past year, with a recent 14% correction. The analyst examines the 4H chart, highlighting the formation of an inverse head and shoulders pattern, which he hopes will lead to a breakout. The analyst believes the current bull market isn't over, despite corrective movements, anticipating Bitcoin to resume its upward trend. He identifies a critical resistance zone between $112,000 and $113,000, previously acting as support in early August before becoming resistance. Successfully breaking this level could pave the way to $119,000. A potential decline is also analyzed, suggesting a drop to $100,000 if resistance holds. Overall, the analysis leans bullish, highlighting the importance of a Fed rate cut in stimulating Bitcoin price action, potentially leading to $118000-$120000 rally. This movement would involve breaking above the point of control and the Fibonacci golden pocket. The Daily chart's MACD is also noted as exhibiting strong bullish sentiment. A breakdown before reaching $113000 can invalidate the bullish analysis.