$RIVER | Parabolic or Peak? 🌊🚀
$RIVER is the talk of the town right now, but the charts are flashing a "Caution" sign. After a massive "God Candle" run from the $40s to a fresh ATH of $88.14, we are seeing some high-stakes price action.
Technical Breakdown (4H Chart):
Price Action: We are currently hovering around $82-$84. The recent 4H candle shows a long upper wick—a classic sign that bulls are meeting heavy sell-side pressure at the top.
RSI (6): Sitting at a scorching 78.32. We are deep in overbought territory. Expecting a "cooling-off" period or a sharp mean reversion soon.
Volume: $1.56B in 24h volume! High liquidity is great, but at these heights, it often signals a potential blow-off top.
The Strategy 🧠
🔹 Entry: Don't chase the green candles. Safe entries lie at the $60 - $64 retest zone (previous resistance turned support). Aggressive traders might look for a bounce at $75.
🔹 Exit/Take Profit: If we clear $90, the path to the psychological $100 milestone is open.
🔹 Risk Management: Watch out for the "Supply Cornering" rumors. With a single entity reportedly holding a huge chunk of supply, a sudden dump could be violent. Keep your stop-losses tight below $71.
The Verdict: Bullish trend is intact, but the risk/reward for a new long at $84 is poor. Wait for the dip, then ride the next wave. 🌊
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