The analysis discusses Bitcoin's recent corrective movement after hitting $118,000, and it's currently trading at around $115,580. The analyst identifies a crucial juncture where Bitcoin needs to hold its uptrend support to potentially reach a new all-time high within the next weeks. A Fibonacci retracement level is highlighted around $118,000, coinciding with the golden pocket (.618 to .65), which Bitcoin must surpass to confirm a massive uptrend.If the uptrend breaks, the analysis anticipates Bitcoin could enter difficult-to-predict territory, potentially down to at least $112,000. The video outlines the importance of this weekend as a possible CME futures gap, creating potential trading opportunities around the $118k fibonacci level.