The analysis indicates Bitcoin has broken through the bull market support and suggests a potential bear market has begun. The analysis points out that historically, breaking this support has led to bear markets or capitulation. The analyst sets a critical resistance level at $95,000, suggesting that as long as Bitcoin remains below this price, the trend is considered bearish. A price target of $79,000 is projected if Bitcoin fails to break above the 95k resistance. If Bitcoin breaks above $95,000, the analyst suggests a move toward $106,000 could be possible, invalidating the short position. The overall outlook is bearish below the mentioned resistance, anticipating a move down to the 70k range.