For the past three weeks, I've been predicting that $BTC will drop to around $53,000 in the first phase, with potential for further declines. Savvy traders can capitalize on this volatile market by taking short positions.

**$BTC/USDT Technical Analysis:**

Currently, $BTC/USDT is trading at $58,865.99, down 3.72%. The 24-hour high reached $61,181.84, while the low hit $57,800.01. The trading volume is significant, with 40,782.96 BTC and 2.44B USDT exchanged.

**Key Levels to Watch:**

- **Support:** $57,800.01

- **Resistance:** $61,181.84

**Trading Strategy:**

Consider entering trades near the support level of $57,800.01 for a potential bounce. Alternatively, wait for a breakout above $61,181.84 to confirm an upward trend. Monitoring shorter time frames like 15 minutes and 1 hour can provide timely entry and exit points.

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