Agree - you can always whack it back again later - putting it back on is a significantly bigger challenge. The only good reason to cut it back further would be if you want a multi-stemmed specimen, which looks better if the trunks originate from points very near the soil line.
No matter what you do insofar as how far back you cut it, you should expect a lethargic response. How enthusiastically a plant responds to a pruning cut in terms of back-budding depends on A) the plant's current state of vitality/ energy reserves, and B) the plant's current ability to create it food (sugar) via the process of photosynthesis. With both factors being quite low, you're most apt to get 1 or 2 buds to be activated immediately proximal to the pruning cut. Also, it's very important to avoid over-watering, as it would be very easy to do until the plant gets back on track. It will use very little water since it has no leaves to promote transpiration. Use a little piece of wood dowel sharpened in a pencil sharpener as a 'tell'. Push it to the bottom of the pot to test for moisture, and withhold water until it comes out only slightly moist.
See the simple tool - bottom row, second from right. I use it primarily as a root pick during repotting sessions, but it is configured the same way as a 'tell'. The media I use drain so well I have no concerns about over-watering. That's a good place to be.
Al