Bitcoin experienced a technical rebound at the 65,701.7 level. Many people are starting to blindly bullish, believing that the bullish trend has reversed, and even chasing the market higher.

However, in my view, this rebound is merely a weak retracement within the downtrend, a trap created by the main players to induce false optimism. The overall bearish pattern remains unchanged, and the subsequent trend will inevitably continue downward. Short positions remain the most reliable profit strategy at this point.

From the market structure perspective, Bitcoin's previous decline was complete and smooth, dropping from a high level all the way down to 65,701. During this process, there were no effective reversal signals, only a passive rebound after touching short-term support.

Currently, the price has slightly recovered but has not broken through the key resistance level. The upper boundary of the downtrend channel continues to exert pressure, and the rebound strength is very limited. This is a typical "deep decline rebound" rather than a trend reversal.

Trading suggestion: Short around 68,600-69,200, targeting 67,000-66,400, with a break below 65,500.