We certainly had a correction, but a bear market does require lower lows as the market becomes increasingly pessimistic. I don't think, after the jump from 50, anyone realistically expects the price to reach 50 again. Even 70 has tremendous support and the last time we could not get past 97.
Testing 50 again is much more likely than 150 or 266 IMO. Trading over 120 for a sigificant amount of time would be surprising at this point.