The video analyzes the BTCUSD pair using technical analysis. Bitcoin broke an ultra long-term resistance level, constituted from the last two bull market all-time highs. The speaker indicates that, historically, when bitcoin has done this, it goes all the way to 200,000$. Due to a CME futures gap at 117500 to 119100, a test is expected on these levels. For risk management, the liquidation price must stay well below 117, to provide room to fill the CME gap, as the possibility is high. A breakout above 123000 will trigger a faster parabolic bullish move to test all time highs.