The analysis starts with Bitcoin's current price at $112,706, noting a recent sell-off and liquidation wave in the crypto market. Despite traditional markets (S&P 500, gold) reaching new all-time highs, Bitcoin shows relative weakness. The presenter looks at possible reasons and critical price points. He points to a significant $2 billion open interest decrease in Bitcoin and a $7 billion decrease in the overall crypto market, attributing this liquidation to short-term investors panicking and selling at a loss.Looking at Bitcoin's performance over the last four months, the presenter points out that bitcoin returns to price levels similar to the ones in May. He mentions gold, which has outperformed Bitcoin since the start of 2024, though traditionally Bitcoin catches up later. Companies are still accumulating Bitcoin, he states.Looking at a chart he predicts the Bitcoin price range.He has been using Pionex’s grid trading bots for a year now, to capitalize on range bound movement.Looking at chart levels, his short trade set up profits are set for $108,100, where new longs have been set. Downside below the golden pocket would mean closing the positions.