The analysis is on Bitcoin, focusing on a four-hour timeframe. The analyst notes that while there has been some bearish divergence, it does not necessarily mean a downtrend is imminent, but rather a pullback. The analyst says that it's more likely that Bitcoin will remain relatively stable before experiencing a minor flush down to around $114,000 before bouncing back up. The target continues bullish to $119000 or $120000. The analyst emphasizes a continued bullish bias since the bottom was found around $108,000 - $109,000, showing strength in the S&P 500 that is trading close to all-time highs.