Is this a market crash or a lesson in manipulation by the 114 whales who just made $3.12 million while everyone is selling in panic?
Analysis of currency $RIVER
Whale data: Bears are crushing the market. 114 whales in short positions are sitting on profits exceeding $3 million, while 139 whales in long positions are currently trapped with losses on a financial position of $15 million.
My analysis: Neutral / Watch mode. The drop is huge (-33%), and although the RSI indicates oversold at 27, attempting to buy now (catching the falling knife) is considered suicide without confirmation.
Key levels I am watching:
Support bounce: I am watching the EMA99 level at a price of 43.83. If the price reaches this level and bounces, I will open a quick long position (Scalp Long) targeting 46.50.
Confirmation of reversal: I will not enter any long positions unless the price regains the 48.00 level with strong trading volume.
Reason: The 114 winning whales may start taking profits soon, which could cause a temporary bounce, but until the bleeding stops, I prefer to stay out of the market.$RIVER
#river
Analysis of currency $RIVER
Whale data: Bears are crushing the market. 114 whales in short positions are sitting on profits exceeding $3 million, while 139 whales in long positions are currently trapped with losses on a financial position of $15 million.
My analysis: Neutral / Watch mode. The drop is huge (-33%), and although the RSI indicates oversold at 27, attempting to buy now (catching the falling knife) is considered suicide without confirmation.
Key levels I am watching:
Support bounce: I am watching the EMA99 level at a price of 43.83. If the price reaches this level and bounces, I will open a quick long position (Scalp Long) targeting 46.50.
Confirmation of reversal: I will not enter any long positions unless the price regains the 48.00 level with strong trading volume.
Reason: The 114 winning whales may start taking profits soon, which could cause a temporary bounce, but until the bleeding stops, I prefer to stay out of the market.$RIVER
#river