From the perspective of the current hourly K-line trend, after several days of sideways fluctuation, the price has broken out upwards, appearing to be a counterattack by the bulls. However, this surge seems more like a surprise pullback. Although MACD has golden cross and is expanding, and KDJ is also strengthening at a high level, be aware that after the rapid price increase, it is already approaching the upper Bollinger band, showing obvious short-term overbought signs. Especially from the rebound structure since June 17, the bottom trading volume is not robust, and this volume increase seems more like a bait for bulls, attracting chasing buyers. If the subsequent trading volume cannot keep up, it is likely to follow a rhythm of rising and then falling back. The 106500 area is an important resistance level in the recent period; once there is weakness in this area after a rise, it can easily turn back down. Overall, this rebound does not have a reversal foundation. My view remains bearish, and the rebound is an opportunity to short. Pay attention to the resistance performance near 106500.