4-Hour Market Structure – The Bearish Engulfing 📉$RIVER
Analysis:
The 4-Hour chart paints a bearish picture. The price has violently broken below the MA(25) at $60.96, which was supporting the trend during the run-up. The gap between the current price and the MA(99) at $36.47 is still massive, suggesting there is plenty of room for further downside correction. The volume bars show massive selling pressure, indicating that "Smart Money" is taking profits after the run from $1.60 to $86.
Strategy: Fade the rallies. Any pump towards $62-$64 is a selling opportunity.
Indicator Watch: Watch for decreasing volume on green candles.