8.20 Has the bear market ended? 1. Yesterday, BTC and gold led the market rally. Their movements were somewhat similar, both rebounding after sustained declines. The bear market hasn’t ended yet. If BTC performs stronger, it might return to the 77,000 range but won’t surpass the previous swing high of 83,000. Gold might return to the 4,700 range. 2. This sharp rally is mainly aimed at squeezing shorts, preparing for a new round of declines. It comes fast and goes fast, with the rebound expected to end within two to three weeks.