This is a Bitcoin technical analysis. The analyst discusses a support line originating from 2017 highs, intersecting 2021 highs. This line has been breached, with consolidation above it for 20 days. Bollinger Bands show significant price compression, indicating an upcoming move to the upside or downside. Resistance is noted around $124,000, derived from logarithmic regression channels and a Power Law chart analysis. A red line validation level is established at $110,000. The analyst expects an upside macro shift, expecting a major move to be in place by the end of August.