$BTC $SOL BTC has indeed broken below the 58,000 mark as expected, and the current price has reclaimed that level. Many may wonder whether the decline has stopped and whether a significant rebound is on the horizon.

I have repeatedly stated in recent posts that 58,000 is not the bottom of this decline. Two days ago, I directly predicted that the price would break below 58,000. Today, the lowest point on the intraday chart was around 57,700, which is fully in line with my previous forecast. Now that the price has swiftly recovered after breaking down, how should we interpret the subsequent market move, and is the 57,700 level the starting point of this rebound?

Looking at the chart price action, the market immediately staged a recovery after breaking below 58,000, with a high-volume bullish candle featuring a long lower wick forming on the 1-hour timeframe—a clear rebound signal. In my post yesterday, I mentioned that once the price recovers quickly after a breakdown, it would trigger a meaningful rebound. Today's market has fully validated that judgment. The price has rebounded from 57,700 to the 59,400 range, a unilateral rally of 1,700 points, indicating strong bullish momentum.

Based on the current chart, here is the operational thinking for the current stage: Focus on whether the 59,000 key resistance level can be held. If the price can firmly hold above 59,000 during the day, the market will likely move up to fill the gap around 60,000. Once the 60,000 mark is reached, we should reassess the subsequent direction. After reclaiming the lost 58,000 level, the short-term market will primarily focus on a recovery rebound. The probability of breaking below the 57,700 low again in the short term is relatively low. The bullish momentum from this breakdown recovery is sufficient, making 57,700 a temporary support bottom in the short term.

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However, from a longer-term perspective, we cannot directly determine that 57,700 is the ultimate bottom of this cycle. After this rebound runs its course, there is still the possibility of a second dip. The market will go through a long period of range-bound consolidation before starting a new decline. The true long-term bottom window falls between October and December, which is still several months away. There is no need to rush into bottom-fishing positions.
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