Bitcoin Braces for Correction: Is a Crash to $110,000 the Next Big Move?
Bitcoin's bull run hits a snag as correction fears grip the market—just another day in crypto's rollercoaster ride.
The Pullback Panic
Traders are sweating as Bitcoin's relentless rally shows cracks. After months of green candles, the king of crypto might finally be due for a timeout. But here's the twist: even a 'crash' could land us at $110,000—proof that crypto math operates in its own reality.
Institutional Whiplash
Wall Street's latecomers are getting their first taste of Bitcoin volatility. Funny how 20% dips feel different when you've got real skin in the game instead of just mocking crypto from your Bloomberg terminal.
The Silver Lining Playbook
Every correction creates converts. Retail traders who missed the boat at $60K now see dollar signs—because nothing fuels FOMO like a 10% discount on digital gold.
Whether this is the big one or just another fakeout, one thing's certain: the crypto market never fails to serve up drama—and the SEC still won't know how to regulate it.
Why A Bitcoin Price Crash Could Begin
With the hit to new all-time highs, the weekend brought a slowdown, and this could drive the next wave of correction. Crypto analyst TehThomas explains this in a TradingView post that suggests that there is still the possibility of a short-term correction for the Bitcoin price. However, it could go deeper than expected as the price moves to retest newly formed support at $109,000 and $110,000.
According to the analyst, the new peaks have plunged the Bitcoin price into uncharted territory, and there would be a new wave of sells from here. Given this, the analyst advices caution as investors engage with the market and the possibility of a deeper correction arises.
Furthermore, there is the formation of an ascending trendline that formed with the horizontal support. Since the trendline moves through the $111,000-$113,000 area, it suggests that the price could fall back downward to retest this level.
In the case of a deeper correction, then the analyst sees a price sweep into the $110,000 levels to take out liquidity. However, this sweep WOULD be inherently bullish since the retest would provide a bounce-off point that could lead to a “more sustainable” breakout toward all-time highs.
Bullish Prospects Still At Large For BTC
While the possibility of a sweep down to former peak levels remains high, it is also possible that the price does not break down and instead continues its upward trajectory. Looking back at the ascending trendline, the analyst points out that it is possible that the price does hold the trendline, reducing the impact of the correction. Such a shallow correction would indicate a continuation without a deeper correction.
In this case, the bitcoin price could resume the uptrend with the $120,000-$125,000 targets in mind. Thus, any deep correction would be expected to begin at much higher price levels. “Bitcoin is currently in price discovery, which means the structure must guide our expectations. A retest of either the trendline or former resistance could provide the next best entry,” TehThomas explained. Regardless of what the case may be, the analyst believes that as long as the price remains above the $110,000 support, then it is inherently bullish.
