$RIVER 🔥 TRADE BIAS: SHORT (Trend Continuation)
This isn't a bounce—it's a bear flag reload. Price collapsed -35%, swept the 24h low at 19.418, and is now in a tight consolidation below all major EMAs on the 1H chart. The "rally" off the low is weak, on declining volume, and has already rejected the key 22.70 area. This is distribution before the next leg down.
HTF (1H/4H) Narrative: The trend is violently bearish. EMA(9) at 20.356 and EMA(50) at 22.448 are stacked overhead as resistance. RSI(14) on the 1H is stuck below 45, showing no real bullish momentum. This consolidation is happening below the breakdown level from the previous range—a classic continuation pattern.
LTF (15M) Execution: Price is coiling between 20.65 and 21.00. SUPERTREND is still bearish. I'm waiting for a rejection off the 20.95 - 21.15 zone (confluence of EMA(9) and prior minor high) to enter a short. This is the restest of broken support.
Psychology: Retail is trying to call a bottom here, buying the dip after a massive drop. The slight positive funding rates show lingering long optimism. They're trapped hoping for a reversal, while smart money uses this liquidity to add shorts for the next impulse down.
The Plan:
· Entry: 20.90
· Stop Loss: 21.65 (above the consolidation high and EMA(50))
· TP1: 19.40 (Previous low sweep)
· TP2: 18.00 (Psychological extension)
· TP3: 16.50 (Measured move target)
· RR: 1:3.1
Invalidation: A sustained break and close above 21.70 would suggest the bear flag is failing and a larger corrective bounce is underway.
This is a high-probability trend-following short. The structure is clear, the momentum is absent, and the crowd is on the wrong side. 📉💣