Bitcoin's Technical Breakdown: What's Next After the $112K Collapse?

Bitcoin just got a cold shower. After struggling to hold $112,500, BTC slipped below key support levels, and now the question on everyone’s mind is simple: how much further can it fall?

The Damage Report

We’re currently trading below $112,000 and the 100-hour moving average—textbook bearish setup. The price action broke through the 61.8% Fibonacci retracement level (from the $106,718 to $116,310 swing), which historically signals stronger selling pressure ahead.

The technical picture is bleak:

• Immediate resistance sits at $111,500 (the trend line is acting as a ceiling)
• First real barrier needs a close above $112,500 to even consider a bounce
• If bulls get momentum, $113,200 and $113,500 could come into play
• Dream scenario for longs: Push through to $115,000–$115,500

Where’s the Floor?

Here’s the thing—if BTC can’t reclaim $112,500, the downside gets ugly fast.

Critical support zones:

• $110,000 (immediate cushion)
• $108,800 (76.4% Fib level—this is the line in the sand)
• $108,000 (next major floor)
• $106,500 (panic territory)
• $103,500 (the primary support that nobody wants to test)

Real Talk

Global risk-off sentiment is weighing on crypto markets. Until BTC shows it can hold above $112,000 consistently, expect range-bound chop with a downside bias. The 100-hour SMA isn’t just a number—it’s become the battlefield.

Watch the hourly action. A rejection at $111,500 could trigger another leg down. But if bulls defend $110,000 aggressively, we might get a relief bounce sooner than expected.