The analysis focuses on Bitcoin's weekly chart, highlighting a bearish MACD crossover and its relationship with the 54 simple moving average. Over Bitcoin's history, each bearish MACD crossover on the weekly time frame is often followed by a test of the 54 simple moving average, initiating a major decline. Currently, Bitcoin is showing signs of a similar bearish crossover on the weekly MACD. If Bitcoin fails to close above prior resistance around $116800 over the next four days and eight hours, the analysis suggests Bitcoin could experience a further 16% price correction to the 54 simple moving average, a decline to around $93925. The analyst states that the discovery of this trading pattern is a major one, and given the possible close of the candle where the MACD ends crossing bearish then he will close the long position. Tomorrow's video will be focusing on what might happen to ETH should the bearish trend happens.