The analysis focuses on Bitcoin (BTCUSDT) using weekly, monthly and daily charts. It identifies a potential rejection at the 116000 to 118000 supply zone, with possible retracement to 112253 or 108944. A daily close above 117000-118000 is seen as a bullish signal targeting highs at 123674. The monthly chart suggests a megaphone pattern forming. The analyst warns against megaphone patterns on wave 5s. The video notes a triple negative divergence on the weekly RSI and bearish divergence on the two-week MACD, suggesting caution. The importance of the monthly close is emphasized. The bulls should avoid a long-legged doji pattern on the monthly. Failure to push higher may lead to a drop towards 70-80k, around the 0.5 to 0.618 Fibonacci retracement level. Also, the analyst adds the fact that at 5 to 5:10 pm, the Jane Street algos kicks in and the market manipulation is to the downside.