$RIVER – Quick Momentum Check ⚠️
Trend: Strong bearish correction. A ~35% drop signals sellers in control.
Structure: Likely broke a key support → market in distribution / capitulation phase.
Momentum: Weak. Any bounce right now is probably a dead-cat bounce unless volume confirms reversal.
Zones to watch:
Support: Around 14.4 (if this fails, downside continuation risk 📉)
Resistance: 18–20 zone (previous breakdown area)
Bias:
Short-term: Bearish / wait-and-watch
Safer play: Let it base and reclaim resistance before longs. Aggressive traders may scalp bounces with tight stops.
Trend: Strong bearish correction. A ~35% drop signals sellers in control.
Structure: Likely broke a key support → market in distribution / capitulation phase.
Momentum: Weak. Any bounce right now is probably a dead-cat bounce unless volume confirms reversal.
Zones to watch:
Support: Around 14.4 (if this fails, downside continuation risk 📉)
Resistance: 18–20 zone (previous breakdown area)
Bias:
Short-term: Bearish / wait-and-watch
Safer play: Let it base and reclaim resistance before longs. Aggressive traders may scalp bounces with tight stops.