Cryptocurrency expert and trader Javon Marks has made a bold prediction, defying the current bearish sentiment in the Bitcoin market by forecasting a significant rebound to the $72,000 level. Despite recent sharp price drops and widespread negative market trends, Marks remains optimistic.

Bitcoin, currently trading below $62,000 after failing to surpass $66,500 last week, continues to exhibit volatility. However, several analysts anticipate an end to the downtrend, predicting a strong recovery soon.

Marks' analysis, based on technical indicators like the Relative Strength Index (RSI), suggests that Bitcoin's recent decline might be ending. He points out a bullish divergence pattern, often signaling upward movement, and notes that key support levels between $56,000 and $60,000 remain solid.

Marks believes Bitcoin has confirmed a bullish pattern, indicating a potential rebound to $72,000 and possibly new all-time highs. He suggests this could lead to significant growth for the crypto asset.

Amid the bearish momentum, another cryptocurrency analyst, Ali Martinez, suggests it might be a good time to buy Bitcoin. Martinez notes that Bitcoin's daily RSI has reached the oversold area three times in the past two years, leading to significant price rallies each time. With Bitcoin currently below $62,000 and in the oversold territory again, Martinez sees an opportunity to buy the dip.

As of now, Bitcoin is trading at $61,220, showing a 6% decline over the past week, with its market cap and trading volume also down by 0.08% and 31%, respectively, in the past day.