According to an analyst, Bitcoin has bounced off the 21-day EMA and key resistance levels to watch for a potential upsurge are at $103,000, $106,400, and $108,500. However, there are concerns about a CME gap between $80,500 and $77,500, which could act as a bearish target if Bitcoin faces a downturn. Veteran market analyst Peter Brandt points to a possible Head and Shoulders formation on the daily chart, suggesting a decline to $73,000, but cautions against relying too heavily on chart patterns for precise predictions. Analytics firm Glassnode identifies $88,000 as a critical price level for Bitcoin, and a sell-off at this level could trigger significant price declines. The next major support level is seen near $73,000, which is described as "free fall territory" by another market expert.



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