📉 IS THE $RIVER RUNNING DRY? 📉 (Short)
ENTRY: 8.460 – 8.580 🎯
SL: 8.850 🛡️
TP 1: 7.950 💰
TP 2: 7.720 🔥
TP 3: 7.450 🚀
🕵️ Why are we shorting RIVER?
Failed Breakout & Double Top: RIVER recently pushed toward the 8.620 resistance level but failed to sustain the momentum. This created a visible "Double Top" pattern on the 1H chart, which is a classic signal that the local peak is in and a reversal is starting. 🛑
Bearish Divergence: While the price attempted to retest the highs, the MACD histogram shows a clear decrease in buying strength. This divergence between price and momentum suggests that the current "recovery" is a bull trap designed to catch late buyers. 📉
Heavy Selling Pressure: Looking at the latest 1H candles, we see multiple long "upper wicks" near the 8.50+ zone. This confirms that whales are using the current liquidity to exit their positions, creating a heavy supply wall that the bulls cannot overcome. 🧱
Mean Reversion Target: After the aggressive pump from the 7.501 lows, the price is significantly overextended. We are anticipating a healthy correction back toward the primary support zones as the initial hype cools off. ⛽
