The analysis begins by noting that November is historically a bullish month for Bitcoin. It's inferred that a close below the 50 weekly moving average would invalidate the analysis, possibly marking the start of a bear market. However, it is stated the Bitcoin/USD pair is not yet in this condition. The analyst identifies 118000 as major resistance, with a break above this level potentially leading to a 125000 range high target. A Bitcoin/Gold correlation suggests a move back to the upside, potentially shifting the market into a risk-on environment. The analyst updates his Ethereum trading position, noting Ethereum's chart pattern, while facing resistance, it could target 5000, sustaining its bullish momentum with additional buying power.