After the sharp decline the day before yesterday, BTC experienced a large-volume bearish candle, which is also the largest trading volume bearish candle in the recent downtrend. This indicates that there has been a significant panic sell-off in the market.

Yesterday, BTC rebounded strongly from around 60,000 to 71,700, a rise of over 11,100 points, almost recovering most of the previous day's decline, demonstrating a strong rebound momentum. Does this mean the market has bottomed out and it's time to start buying the dip?

My view is: it is still not the right time to buy the dip. We should not blindly assume that the bottom has arrived just because of a short-term strong rebound. BTC has already experienced a significant retracement from its high, and such fluctuations with a rebound of thousands of points are normal; the market will not only fall without rising.

From a technical perspective, BTC is currently showing a large bullish candle with increased volume, indicating the market has entered a consolidation and upward phase. In the short term, it is unlikely to hit new lows again. During pullbacks, consider positioning for long positions. However, whether 60,000 can become an effective bottom still requires time to confirm.

I have always emphasized that a more prudent way to buy the dip is to patiently wait for clear signals that major funds are starting to accumulate. Based on time cycle analysis, the true bottoming phase of BTC is likely to occur in the second half of the year, which means the market may need about half a year for consolidation and adjustment. Therefore, it is still premature to choose to buy the dip now.