No, I don't think it is, actually

it will be a rebounce. Bull will create another chance to escape. It will rebounc some day next day, however this rebounce will not reach that high.

Bears need to accumulate short/put position once there is such a rebounce. It is not wise to buy very out of the money put option. So whenever there is a panic sell, I write put option and take them back when there is a rebounce.