Recently, CYS's rebound, to put it simply, is short-term funds doing technical averaging, and it hasn't changed the previously formed weak situation.

Looking at the 4-hour K-line, the price hit a wall at 0.4177, still far from the previous high of 0.4586. What better illustrates the issue is the MACD; after the golden cross, the red bars are growing at a painfully slow rate, which precisely indicates that the bulls have little momentum.

On the contract side, it's quite interesting—while the open interest has increased, the proportion of large traders' short positions is also quietly rising. Every time the price is pushed up, active sell orders appear accordingly. This set of actions looks like the market makers are taking advantage of the rebound to sell off in batches.

What does the future look like? If the rebound reaches the 0.42-0.43 range, it will most likely be firmly suppressed by the previously trapped positions; conversely, if the support line at 0.40 breaks, a retest of 0.38-0.39 is basically inevitable. To be honest, such a rebound is a good opportunity for the bears to enter.