May 5th Xiao Yue “Double Bing” Analysis

This “Double Bing” wave surged up to 2398 and then clearly ran into resistance. The upward momentum quickly weakened, and subsequent rebounds were unable to break above the previous high. Instead, price repeatedly faced pressure and traded in a range at elevated levels. After the price pulled back from the high point, the rebound strength became weaker with each attempt. Overall, the market rhythm shifted from a strong rally to a sluggish consolidation at high levels. Overhead sell pressure continued to be released, and long-side follow-through can no longer keep up. The current small rebound looks more like a weak repair within a downtrend rather than a trend reversal. Overall, bearish sell pressure is gradually taking the upper hand, and in the short term there remains the risk of further pullback and weakening.

Trading Suggestions:
Place orders in batches in the 2380-2410 range for a short setup, with targets in the 2300-2330 range.
#以太坊