The analysis identifies current prices for Bitcoin at approximately 117726 and Ethereum at 4483, with the 4-hour timeframe chart. Bitcoin previously hit a high of 124500, then experienced a selling pressure driving the price down. A support level is noted around 117700. The technical discussion highlights a bullish flag formation on Bitcoin's daily chart, suggesting potential for market recovery and upward movement from the 117000 support. However, a break below this support could lead to further decline towards 115700. Fibonacci retracement is applied, mentioning market retraced after hitting all time high 123300 and now facing the 116000 area next resistance. Also identifies key resistance at the Fibonacci 0.236 level near 119900 and higher at 120000. The presenter suggests to confirm if the price reverse at 117700 level.