The analysis starts by stating that Bitcoin is currently in a bearish movement according to the MACD indicator. It notes that a bearish crossover in the MACD preceded a market decline to a support level. The market subsequently rose, but there hasn't been a bullish crossover. If a bullish crossover occurs, the analyst suggests there is a high probability of the market rising. On the weekly timeframe, the price is making a bearish structure, with higher highs in the price structure but lower lows in the RSI. This pattern has occurred previously. The analysis points out the higher highs in the price and lower lows in the RSI, which occurred previously and is occurring now. A target price of $124000 is given if the bullish trend continue, with the analysis being invalidated if price reaches 110000.