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RIVER's recent market movement has been quite crazy. A single-day surge of 55.87%, bullish sentiment has already reached a critical point—usually indicating that the short trap is about to break, and profit-taking is imminent.
After the price surged to a high of 29.14, the candlestick started to turn around, and it is currently oscillating around 27.703. From a technical perspective, the price is consolidating at a high level, but the trading volume has not reached new highs—what does this imply? Buying interest has already started to weaken before the $30 level. Overbought indicators are seeking correction, and once the price breaks below the short-term support at 27.00, the downward space will open quickly.
**The trading logic is as follows:**
Enter between 27.703 and 29.800, with a stop-loss at 33.150. The first target is 21.600, and the second target points to 17.500. Using 20x leverage, a price drop of about 1% from 27.703 (roughly 0.27 points) can yield a 20% intraday profit—this risk-reward ratio is quite acceptable from a position management perspective.
But RIVER's temper is indeed not very good. It is recommended to adopt a "gradual entry with strict stop-loss" approach, rather than going all-in at once. Pay special attention to the 5-minute chart—if you see continuous failed attempts to push higher with decreasing volume, that is basically a confirmation signal to enter short positions. The resistance from the supply zone is strong, and combined with the emotional extremes already reached, a pullback is not just possible but highly probable.