The BTC rebound after a sharp decline has begun, with the first target price for the rebound estimated to be around 71,000, and the second target price around 75,800.

The speed and depth of this BTC drop exceeded expectations, and while a rebound was anticipated around 65,000, it actually fell sharply to around 62,500. Moving forward, BTC is likely to experience a small-level rebound, with the following logic:

1) Daily price drop with increased volume, a divergence between volume and price, with trading volume nearly double that of the 1011 crash;

2) The four-hour chart shows a dominant bearish energy, with bears being absolutely strong, limiting the height of the rebound, and further declines are expected;

3) There is a buildup of order book buy orders, but some orders have been canceled, so the overall buy order amount is not considered excessively large;

4) ETF institutions have become the main force in market sell-offs, while retail investors are buying the dip; therefore, as BTC rebounds, it is estimated that ETF institutions will continue to offload, as ETFs are the big players, buying high and selling low, and they move faster than anyone else.

Personally, I predict that a rebound to 71,000 for BTC would be good; if it can rebound to around 75,800, that would be beyond expectations. This is a dead cat bounce, and once the rebound is completed, further declines are still expected. It is estimated that BTC prices will drop to around 58,000 before a significant rebound occurs. Now, buying the dip can only be short-term trading, entering and exiting positions, as there will be further significant declines ahead.

For truly bottoming out BTC, there is no need to rush; there will be plenty of time and opportunities to buy BTC starting with a 5, and it might even be possible to buy BTC around 40,000.