The video presents a technical analysis of Bitcoin (BTCUSD), focusing on Elliott Wave theory and Fibonacci retracements. The analyst points out a sharp rejection at the 38.2% Fibonacci retracement level, around 92.7k to 101k, a key resistance area. The analyst mentions the importance of the 38.2% retracement as an ideal target for the fourth wave, noting that reaching this level fulfills the minimum targets from the previous week's low. According to the analyst, wave four could complete at any point, however, they mention a micro support on smaller timeframes and need a break below 88693, in order to have clarity if wave four has topped. The video suggests the possibility of one more high within the fourth wave before a pullback and emphasizes that a break below the micro-support would open the door to retesting the main support level. The analyst thinks that it will just ranging the market. The lack of movement is due to the US stock market.