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RIVER is showing signs of a classic dead cat bounce. The price just dropped to 7.46 in the past 24 hours with a decline of -16.73%, but it seems like market makers are preparing a liquidity trap. Please explain: that thin pump up to 8.007 is just to trap late FOMO before a real sharp decline.
I am completely short below 11.980 for a simple reason – the supply above is too dense, no way the bulls can break through without massive volume. Share my trading plan: enter a position around 7.92 - 8.09, set stop loss at 8.51, then target sequentially at 7.50, 7.33, and finally 6.99.
Do you think RIVER will test down to 7.500? I bet yes, and it looks like we’re about to see it. Let me know your opinion.