The analyst discusses Bitcoin's current price at approximately $117,700, noting a lacklustre Sunday performance compared to previous weeks. He anticipates a red day, expecting a move down to the golden ratio zone around $116,500. At a minimum, he forecasts a descent below $116,000, possibly to $115,500-$115,600, or potentially as low as $114,500. He acknowledges Bitcoin's significance at the 0.786 Fibonacci level, reached approximately 4-5 times. Analyzing liquidation levels over the past week, he observes significant liquidation of longs below $115,000, with shorts dominating the 7-day timeframe and longs the 30-day. Should the price fall below 114400, most long positions would be cleared out, resulting in shorts dominating the 7 and 30-day timeframes, so it would invalidate the long trend. A potential consolidation in an upward sloping phase is identified, viewing the trajectory as a momentary downtrend. The goal is to clear out longs, pile on shorts, which will then serve as fuel to drive prices even higher.