3.20 Rebound Rather Than Reversal

1. The Federal Reserve announced a plan to slow down QT, reducing the monthly redemption limit from 25 billion to 5 billion, which is the second time; the last time was on May 1, 2024, when it was reduced from 60 billion to 25 billion.

2. Regardless, this is good news; the last QT slowdown also brought about a wave of rebound.

3. Although BTC has broken through the short-term resistance level of 85,000, the trading volume is low, and above 92,000 is a huge area of trapped positions. This is more of a rebound and has not yet truly formed a bottom.