The Bitcoin bulls are on the attack again, and bullish momentum is picking up! Bearish momentum is still pretty weak—bears are getting wrecked! The price action is currently following the projected path in the second chart below. Next target is around 68K, with an extreme rebound target of around 70.8K. This is just a dead cat bounce during the bear market decline, not a mid-term trend reversal. Bull markets often see sharp drops, while bear markets often see rebounds. Even in a bear market, there can be strong rebound rallies. I still firmly believe that the true market bottom of this bear cycle isn’t at 60K but closer to 45K. Right now, we’re in a strong rebound phase within a wide-ranging consolidation market.