📝 $RIVER 🚀🚀🚀🚀💥been on a wild ride lately – it's in a solid uptrend but pulling back a bit from those fresh highs. I'm leaning cautious long if we get a dip to jump in, or maybe a quick short for any short-term correction.
Looking at the K-line chart, there were some massive volume surges during the latest bull runs, with 29.1M volume. Right now, the 24-hour volume's sitting at a hefty 149.4M, which screams that traders are still super interested. That said, the last 4-hour candle had way less action, so maybe the crazy buying frenzy is easing off for now.
Capital Flows: The net inflows for contracts are looking super bullish no matter the timeframe – we're talking +47.97M in the last 24 hours and +65.08M over the week. That's a ton of money pouring into perps, showing leveraged players are really confident. Spot data wasn't in the mix here, but just this contract stuff alone is a big green flag for momentum.
- Entry Long: Best bet is hanging tight for a pullback and buying the dip. I'd eye entries around S1 support at 7.344 or the MA20 at 6.85. If you're feeling bold, wait for a break above the recent peak around 11.59 – that'd confirm the uptrend's back in full swing.
- Entry Short (Quick Play): price hugging the upper Bollinger band, and some possible RSI/KDJ divergence brewing, this could be a spot for a counter-trend short. Aim for the middle Bollinger at 6.85 or S1 support at 7.344. Jump in on a rejection at R1 resistance (11.928) or if it drops below 9.80.
Stop:
- For Longs: Say you buy at 7.50, I'd put it at 7.15 (about -4.6%)
- For Shorts: place it 3-5% above your entry, like above 12.25 if you're shorting from 11.70, to keep risks in check.
Targets to Watch:
- Long Targets: From a dip entry, a safe aim is retesting the high around 11.60. If things heat up, push for next resistance at 14.05.
- Short Targets: I'd target Support at 7.344 or MA20 at 6.85 for a quick win.
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