The analyst discusses Bitcoin's price action, noting a drop to the 88.6% Fibonacci level around 108883, a level which often triggers stop losses and a price rebound. The video suggests BTC may retrace back up to the 61.8% Fibonacci level at approximately 113968, coinciding with a moving average cluster. A failure to close above the moving average cluster increases the likelihood of a further decline. Potential support lies around 105291 down to 103532. According to the analysis it must break through the Fibonacci level of 113968 and gives the target price to 130000, but losing the 103592 would invalidate the analysis.