BTC Bitcoin

Sep 3

BTCUSDT BTCUSDT.P

BTC/USDT right now there's a critical level around the $56,950 area, marked as a high liquidation leverage zone. This level has previously acted as a strong support, and given the current market conditions, it could be a potential bounce point.

The price recently pulled back sharply, but we're seeing signs that buyers may step in around this area. If we get a solid bounce, the next resistance levels to watch are around $58,500, $58,750, and $59,500 – areas where sellers could re-enter the market.

However, keep in mind that a break below $56,950 could lead to a deeper correction, possibly down to the $55,000 range or lower. It's crucial to monitor volume and price action closely here. Look for bullish candlestick patterns or a higher low formation as potential confirmation of a rebound. Manage your risk accordingly and wait for confirmation before making a move!"