How Low Can Bitcoin Price Go If $110K BTC Support Fails?
Bitcoin’s bounce after a sharp weekend drop is weakening, with the price falling 4.65% to about $110,000 amid a global equity slump triggered by China’s actions against several US firms. The $110,000 level has recently acted as both support and resistance, sparking significant swings when breached. If Bitcoin fails to hold above this support, chart patterns and technical indicators point to a potential decline toward the $100,000–$103,000 area—supported by the lower trendline of a broadening wedge, the 50-week EMA, and a key Fibonacci level. Onchain metrics from Glassnode show Bitcoin now trades below its +0.5σ deviation band, a sign it may revert to its mean band near $96,500, as occurred earlier in the cycle. Dropping below this level could trigger a move toward $74,000 and raise the risk of a bear market, though the current pullback might also serve as a reset before the next bullish phase.
