On the morning of January 7th, the market chart showed an arc bottom pattern. Several consecutive bullish candles indeed attracted many bullish sentiments. But a closer review of this period's rhythm reveals some interesting points——the price was rapidly pushed up, then concentratedly dropped overnight. This back-and-forth tossing, frankly, is a typical high-level shakeout. Frequent surges and rapid pullbacks have strong destructive power and seem to carry significant risk.

Currently, the price is approaching the key resistance level at 93,500. This price level has repeatedly acted as a "pullback point" in history, and its effectiveness has been verified multiple times. From a technical perspective, the bears still hold the advantage: short-term moving averages are in a death cross, clearly exerting pressure on any rebound; during the upward movement, volume did not follow suit, a typical divergence between price and volume; profit-taking at high levels is too dense, and once the upward push stalls, the selling force will be quickly unleashed.

Ultimately, this rebound is more like a time window for the bears to reconfigure rather than the start of a trend reversal. There are no clear signs of new funds entering at this point. Maintaining a defensive mindset and not being tempted to chase short-term gains is the wiser approach.

Operational reference: Pay attention to resistance signals in the 93,500–92,900 range, and consider gradually shorting. Focus first on the 91,500–91,000 zone below; if it breaks down effectively, then closely monitor the 91,000 and 90,000 support lines.