From the perspective of the current hourly K-line trend, after several days of sideways fluctuation, the price has surged upwards, appearing to be a counterattack from the bulls. However, this surge seems more like a surprise pullback. Although the MACD has shown a golden cross and increased volume, and the KDJ is also strengthening at a high level, it is important to note that after a rapid price increase, it has approached the upper Bollinger Band, indicating clear signs of short-term overbought conditions.

Especially from the rebound structure since June 17, the bottom trading volume has not been stable, and this volume increase feels more like a trap to lure in buyers chasing the rise. If subsequent volume does not follow, it is very likely to result in a pullback after a high. The 106800 area is an important resistance level recently; if it struggles to rise in this area, it could easily turn back down again.

Overall, this rebound does not have a reversal basis. My view remains bearish; a rebound is merely an opportunity to short, paying attention to the performance under pressure near 107000.