The analysis discusses Bitcoin's price action within a range since July 14, noting sweeps of the range's lows and highs. The analyst identifies the 21-day and 50-day moving averages as key levels. The 50-day moving average is identified around 115196 and the 100-day moving average around 110451. There's a scenario considered where Bitcoin might retest the 50-day moving average. An Elliott Wave count suggests an ABC running flat pattern could be in play before further upward movement. A potential drop to the 100-day moving average is mentioned as a backtest. The analysis also highlights a gap from July 9. An inverted head and shoulders pattern is noted on the macro chart. To continue increasing it has to wick down to the 50 day MA at 115188.