Bitcoin faces a potential correction to $96,500-$100,000 if $110,000 support fails, with technical patterns suggesting a mid-cycle reset. Recent dip to $110,000 followed global equity slump due to China restrictions. Analysis points to potential decline to $100,000 amid broadening wedge. Current correction phase could lead to target around $96,500.

Bitcoin is currently below the +0.5 standard deviation band near $119,000, indicating potential reversion to mean band around $96,500. Historical data shows similar mean reversion during past corrections. Failure to hold support could lead to bear market, with downside target at $74,000. Cooling-off phase may precede next leg higher in broader bull market.

Read more at Cointelegraph: How Low Can Bitcoin Price Go If $110K BTC Support Fails?