The analysis discusses Bitcoin's price action on the daily timeframe. It notes the price recently hit an all-time high around August 14th before entering a downward price channel. The daily candle has closed above the channel's upper boundary line, which is interpreted as a potential breakout. A pullback to retest the price channel is anticipated. The VRVP indicator shows the point of control around $118,000, suggesting this level could act as a magnet. The price may grind towards this area in the coming weeks. September is typically bearish for Bitcoin. The $115,425 to $120,404 area is highlighted as a potential Fibonacci resistance. The presented analysis suggest a likely increase, setting the target on 118000, if the value goes bellow 107000 the analysis is invalid. It suggests that even if this analysis is correct in a few weeks the coin will be at 118000, it could be only a corrective measure not a bull run.