The analysis focuses on Bitcoin's technical structure, particularly the support level around $110,000 bolstered by the bull market support band and a neckline of support relevant since December 2024. A break below $107,000 would signal significant danger, warranting derisking. Currently, the retest of this level correlates with historical price cycles, echoing patterns seen in 2017 and 2021. The analysis uses the weekly chart RSI and MACD as momentum indicators, noting that the RSI has fallen through a key level of 62, signaling a potential downward shift in momentum. He considers that this is potentially the last retest and support before making a new all time highs. He emphasizes the importance of the $110.5k level. The final target price to beat is 124277.50.