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A rebound isn’t a reversal! The real show in the market is the new Fed chair, Worsh, taking office. Looking back at when past Fed chairs took office, the market almost always sees a round of sharp selloffs. This is a historically significant bearish momentum. Now, any rebound is just handing the shorts a set-up point— the bear feast is about to begin!
Bitcoin resistance levels above are 78,200 and 79,000.
Support levels below are at 776,00. With the resistance above, set up shorts and keep positions light. Once 76,000 breaks down, the strong support below is at 72,000.