Bitcoin Stumbles Below $111,000: How Low Can It Go?

Bitcoin (CRYPTO: BTC) dropped over $4,000 in a matter of minutes on Sunday, a move that established fresh support and resistance levels to watch.

What Happened: In a post in his exclusive Patreon group, prominent analyst Kevin said Bitcoin has recently tested a major support zone at $110,700, which aligns with the 0.5 Fibonacci retracement level and the daily 100 exponential moving average.

This support is critical, as it cleared liquidity pools down to $111,000 and set up a significant CME gap to the upside at $117,200, a level that historically has an 80%+ probability of being filled.

While the Sunday dip triggered heavy liquidations, this move may be more bullish than bearish in the short term, suggesting potential for …

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