The analysis begins by noting Bitcoin's dip into a support area. The analyst points out that the price movement reached resistance and the upper trend line, predicting an expected pullback. Currently, the pullback is unfolding as anticipated. The analyst observes that the move to the upside isn't impulsive, describing it as a diagonal structure. The price is moving within a channel, from the upper boundary line back to the lower boundary line and into Fibonacci support between $105,825 and $110,012. There's volatility with the levels being respected and saw the price pump into resistance. The reminder of resistance area is between $113,430 to $121,670.