This analysis outlines a bearish outlook for Bitcoin in the short term, supported by technical analysis, while maintaining a bullish view in the long term. A key multi-week monthly uptrend line spans back from 74,000, however this is the last line of support. The main focus is on a significant monthly uptrend line to watch. In the short term, the current downward continuation pattern targets a significant monthly uptrend around 74,000. Invalidation of the bearish outlook requires breaching $119,000. The total cryptocurrency market cap and altcoin market analysis is also bearish as both are at resistance, with a key support at 3 Trillion. Additionally, it mentions DXY is trending up now while S&P 500 looking to develop weakness and potentially bearish divergence to the baseline with targets 92 and 5800 respectively. Key points include Bitcoins inability to break 119,000, the bearish weekly candle, the current downside price action to 111900 and warning signs on the weekly momentum.