This rebound is a short squeeze in the bear market, aimed at clearing out short liquidity. Similar to the 2022 bear market trend: after breaking the previous high to lure in buyers, it’s highly likely to start a new main downtrend. Currently, the rebound seems to have mostly reached its peak and entered the top zone. We are still in the mid-phase of the bear market, and this round is the final drop of the bear market. Long-term target is below 50,000, with a reasonable range of 45,000–50,000. Main strategy: focus on shorting. The 73,000–75,000 range can be used for left-side short entries in batches; If it breaks below the 72,000 support, that will confirm a right-side short signal.