The analyst discusses Bitcoin's recent price action, noting a bounce after hitting a price target of $82,000. He points out that Bitcoin previously broke below the EMA ribbon at $98,000, leading to the $82,000 target. He emphasizes the importance of the $98,000 level as a potential new resistance. A weekly close above $98,000 would invalidate the current bearish outlook. If Bitcoin is rejected at $98,000, the next target is below $64,000 and $70,000 due to volume support alignment. As long as Bitcoin trades between $82,000 and $98,000, remaining patient is advised, while also taking into account the 300 week moving average on the EMA. A bearish scenario would validate once it breaks below 82000.