Bitcoin Faces Breakdown Risk Below $106K, Warns Analyst 

Also he shared insights with over 63,000 subscribers, highlighting $106,000 as the crucial support to monitor.

Breakdown Below $106K Could Trigger Multi-Level Drop

Bennett stated that Bitcoin’s recent structure hints at a possible bearish reversal. Should BTC lose its grip on the $106,000 level, he sees a high probability of the market sliding to multiple downside targets.

“If we get a confirmed breakdown, the first target sits near $101,000,” said Bennett. “If that fails, the market could move down to $100,000, and possibly to $97,000 or even $92,000 in the worst-case scenario.”

He noted a visible imbalance in Bitcoin’s price chart that would likely be filled if the bearish momentum takes hold. The warning comes as BTC trades around $107,560, still holding roughly 4% below its all-time high near $112,000.

Bullish Reversal Needs a $110K Recovery

Despite the looming downside risk, Bennett outlined a bullish invalidation scenario. If Bitcoin can reclaim $109,000 and close above $110,000 on the daily chart, he believes the breakdown thesis would be invalidated.

“A close above $110K flips the outlook. It shifts momentum back to the bulls,” he explained.

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Current Market Position

Bitcoin remains in a tight range between $106,000 and $112,000, with traders awaiting confirmation of direction. For now, all eyes are on the $106,000 zone — a break below it could unravel short-term bullish hopes and expose the market to a steep correction.

Until then, Bitcoin’s next major move will likely hinge on whether bulls can defend this support or bears seize control.

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