The analysis is based on a 1-hour timeframe chart for BTCUSDT. The cryptocurrency has formed a new support line, and the market is seen bouncing off this support. The market has come down to the support and moved upwards, repeating this pattern several times, respecting this support line. The analysis suggests that if the price falls below the current support, the next support level would be around 115700. However, if the market continues to respect the support and moves upwards, the price is predicted to increase. The predicted target is about 119892.