The analyst discusses Bitcoin's current price at $117,300 on August 15th, anticipating a move slightly lower. Initially, support is expected around $116,500 to $114,500. The analyst also points out a triple top formation and bearish engulfing candle pattern. Using Fibonacci retracement from a recent high, the golden ratio area of $116,500-$115,600 is identified as a potential support. The analyst recalls an earlier call where bullish movement to $123,000-$125,000 was predicted. The speaker uses relative highs and lows, predicting a potential dip toward a golden ratio support around $116,500 to $115,600 and suggest that the price should probably go to the 786, $114,495. Examining the 1-hour timeframe, stochastic indicators are bearish, RSI shows bullish divergence but remains bearish, and MACD is also bearish. The analysis suggest that liquidation levels show lessened long positions, and a further drop towards $116,000 or $115,000 may liquidate more longs and the next target is $140000 and then $160000-$180000 but growth is slow and steady, possibly by late September or October.