Bitcoin Struggles After Weak Monthly Close, Traders Watch Key Levels for Possible Price Swings 📉
#Bitcoin 's price dropped over the weekend, shedding more than 2% on September 1, leading to a weak monthly close for August. The price hit a low of $57,230, a level not seen since mid-August, as liquidity conditions worsened. August ended with an 8.6% loss, and September is historically a difficult month for Bitcoin, averaging a 4.5% decline.
Traders are concerned about Bitcoin's ability to hold certain key levels, with some predicting a drop to $51,000 if it falls below $55,000. However, there are also opportunities for #liquidity grabs, with one trader setting a long order at $56.6K and targeting an upside move to $61,300.
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