Recently, BEAT's rebound has been quite fierce, but looking through the technicals, it's clear—this is more of a corrective rebound after a decline, and the overall bearish trend hasn't loosened at all.

By checking the 4-hour K-line, you can see that the MA99 still firmly stays above 3.0, indicating the medium-term trend remains downward. Looking at the chip side, large holders' short positions have been consistently high. Although the long-short ratio has rebounded somewhat, it's mostly a sign of small retail investors bottom-fishing. The true big funds haven't taken action yet.

When the price rebounded near 2.55, it coincidentally encountered a chip concentration zone formed during the previous decline—that's a clear resistance level. Although the basis has warmed up somewhat, judging from the trend of open interest and market cap ratio, the short funds haven't truly exited; they are just waiting for the rebound to complete before pushing down again.

This weak rebound after a sharp decline provides a better opportunity to open short positions. Many traders are watching the 2.58-2.6 range to short, with stop-loss set around 2.7. The first target is 2.3, and if that breaks, look toward the previous low at 2.0. The core idea is: the overall trend is bearish, and the rebound is just a better entry point—don't be fooled by the short-term bullish candles.