The analysis focuses on Bitcoin (BTCUSD) and its potential movements based on Elliott Wave theory and Fibonacci retracements. Currently, the market hovers around the 61.8% retracement level, with two bullish scenarios under consideration. It suggests that breaking below the 114471 level would invalidate this bullish structure. Resistance is noted between 119838 and 123300. It also mentions the possibility of reaching a target of $130,000.