Bitcoin surged to a peak near 65,600 yesterday, then met resistance and reversed. Within one hour, the technical structure formed a clear “surge then pull back” pattern. The RSI indicator has continued to fall from the overbought zone. After the bulls pushed higher, they lacked follow-through strength, and all rebounds are essentially bearish pullback-and-repair moves. The market’s highs keep stepping down, and the overall downtrend is already confirmed.