BTCUSDT Breakdown and Potential Rebound
Last Friday, September 6th, BTCUSDT experienced a sharp decline, reaching the 52,500 support level. This movement aligned with our anticipated range of 52,000 to 55,000.
Since the start of the week, BTCUSDT has shown resilience, demonstrating a positive recovery. Key price zones to watch this week are between 60,300 and 62,400.
The market remains uncertain. A potential scenario is a continued upward movement, surpassing the 62,400 resistance. However, there’s also a risk of a pullback. If a dump occurs, it’s crucial to monitor whether the 52,000 support holds. A breakdown below this level could indicate further downside pressure.
Worst-Case Scenario:
In a worst-case scenario, BTCUSDT might experience a more significant correction, potentially retesting lower support levels. However, it’s important to remember that technical analysis provides insights based on historical data and patterns, and future price movements can be influenced by various factors, including macroeconomic events and market sentiment.
Stay tuned for our in-depth weekly technical analysis for further insights and updates.
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