Bitcoin Price Analysis:

As of today, September 2, 2024, $BTC is trading around $58,300, reflecting a notable decrease from last week's high of $63,768. This decline highlights a bearish sentiment in the market, with BTC facing resistance at levels such as $59,098 and $61,708. These resistance levels are crucial; breaking above them could restore bullish momentum, while failure to do so might push BTC down towards its support levels of $57,265 and $55,433.

The market is currently influenced by various technical indicators. The Relative Strength Index (RSI) suggests a bullish divergence, meaning there might be a potential reversal if Bitcoin manages to hold above $57,750. If it falls below this level, however, it might face further declines to around $56,000 or lower.

Investors are also closely watching upcoming macroeconomic data, such as the ISM Manufacturing PMI and Nonfarm Payrolls, which could impact Bitcoin's price by influencing broader market sentiment. This analysis indicates a cautious outlook, with the potential for both further downside or a recovery depending on market conditions and economic reports.