The analysis assesses the Bitcoin chart, focusing on Elliott Wave patterns. The move up from the April low is considered a five-wave pattern. The analyst looks at the orange scenario representing a potential major top. A five-wave move down is needed to confirm this, along with a break below the support level of 101569.85. The weekly chart signals high risk, a condition that has persisted for months. The speaker also makes note of alternative outcomes including a wave 4 support area at 112954.34, Fibonacci 38.20% at 106509.21 and then Fibonacci 50.00% at 101569.85. The smaller 30m chart is also observed, where a break above 115948.63 would indicate a B wave.