The analysis suggests that Bitcoin is currently trading at 107.6K and is expected to correct downwards in the short term, potentially finding support around 106.2K. The analysis identifies a descending channel and a bull flag formation. All Exponential Moving Averages (EMA) are currently beneath Bitcoin's price, with the monthly RSI indicating a target near 300K based on historical trendline resistance. Additionally, a model factoring in diminishing phase 2 returns projects a target of 316K by 2025, starting from an entry of 109K. A comparison with the S&P 500 reveals a strong correlation, where declines in the USD index correlate with increases in risk assets like Bitcoin and global equities. The analyst suggests Bitcoin will break the descending channel and trend upwards to reach new all-time highs.