5.4 “Er Bing” Pattern Analysis

“Er Bing” on the 1-hour line spiked to 2356.75 and then closed higher with a long bearish candle. Bullish momentum after the surge quickly exhausted, and the concentrated sell pressure on the board was rapidly released, indicating a clear short-term reversal signal. The price swiftly pulled back to 2309.01, directly breaking through the short-term support level of the current leg up. The upward structure was damaged, and bearish forces took control.

Technically, the KDJ indicator’s three lines turn downward, with the J value entering the negative range. After forming a high-level dead cross, the lines continue to diverge; the short-term demand for a pullback from being overbought is strong, and the downside room is further opened. Coupled with the intensifying geopolitical conflict at the Strait of Hormuz, market risk-off sentiment is heating up. Risk assets are broadly under pressure, and “Er Bing” lacks fundamental support.

In terms of the formation, after a high-level session saw heavy volume and closed bearish, the bulls collapsed. The near-term resistance above is in the 2330–2340 zone. If the rebound meets resistance, the decline will continue. For support, first look at the 2300 level; after a breakdown, it will likely test the 2280 area. Overall, a technical breakdown combined with negative news signals suggests that in the short term, the main approach is to look for selling on rallies.

Trading recommendation: 2340–2370; target 2250–2150.$LAB $ETH $BTC