Bitcoin to start a bigger correction at this level, according to analyst

As Bitcoin ( BTC ) lingers below the $110,000 mark, a trading analyst has warned that the asset may be facing a deeper correction if certain levels are ￰0￱ to analysis by Ted Pillows, after a recent decline from resistance above $113,000, the cryptocurrency is holding within a critical support ￰1￱ price analysis chart.) stands at $114,313, signaling short-term weakness and reinforcing the ongoing bearish sentiment. However, the asset remains above the 200-day SMA of $104,142, suggesting the broader trend is intact unless that level is broken. Meanwhile, the 14-day RSI at 37.81 reflects bearish momentum, edging closer to oversold ￰2￱ sellers remain in control, the indicator suggests Bitcoin could soon enter a zone where buyers step in to defend key support ￰3￱ any sustained upward move, the asset must reclaim the $110,000 ￰4￱ image via Shutterstock