The attention on the digital currency market continues to heat up. Recently, a well-known encryption currency analyst pointed out the key price levels that Bitcoin's future trend may face through detailed chart analysis.

The analysis shows that there is a significant resistance point for Bitcoin around $117,000, which could pose an important obstacle to future price increases. More notably, below this resistance level, the support structure for Bitcoin seems to be unstable. Particularly in the range of $108,000 to $113,000, there is almost no obvious support level.

This analysis reveals the potential risks and opportunities in the price movement of Bitcoin. If Bitcoin can break through the resistance level of $117,000, it may usher in a new wave of increases. However, if it fails to break through this key point, it may face the risk of a correction, and during the decline, it could experience a significant drop due to a lack of strong support.

For investors and market observers, this analysis provides valuable insights that help them formulate more informed investment strategies. However, given the high volatility of the encryption currency market, investors must still proceed with caution and manage risks appropriately.