The analysis discusses Bitcoin's recent price action, noting a drop to 111,600 followed by a rally to 117,000 due to Jerome Powell's dovish stance at the Jackson Hole summit, signaling potential rate cuts. The video uses a daily chart to analyze Bitcoin. A crucial safety line was breached (uptrend support) but recovered. The Point of Control at 105,000 is not expected to be reached now. The hourly chart is in oversold conditions, indicating potential upside. Historically, similar dovish stances have resulted in pump and dumps, needing the break to 115,000, backtest and conversion to support, to confirm continued upside. A large bull flag formation could send Bitcoin to $135,000 between September and October. A failure to hold above 112000 would lead to a predicted drop to 105000 or 100000. The last time a revisit to 112000, saw BTC rally slowly.