If we really are entering the early stage of a bear market, then this rebound might be the last exit window for the bulls. Now we need to consider: how high can this rebound go?

Looking back at the early stage of the previous bear market, there was a double bottom around 33k, and then it was forcefully pulled back up to 48k—a rise of over 40%. Applying that logic to the current situation: starting from 80k, with a 40% rebound, the target would be around 110k. Of course, history doesn’t simply repeat itself, but at least this reference point can serve as a psychological anchor.