$RIF is up 17% today. But here's the uncomfortable truth: it's still down 18% over the last 7 days. This isn't strength — it's a band-aid on a wound. 🩹
The Picture:
Daily RSI at 42.9 and 4H RSI at 47.5 — both neutral, not screaming buy. Price ($0.0858) just barely reclaimed the 7-day SMA ($0.0879) but is still far below the 25-day ($0.1149). The daily moving averages are stacked bearishly: 7d < 25d < 99d.
Why This Matters:
Volume ratio of 0.96x — that's actually BELOW normal. Translation: no fresh money is rushing in. This bounce is happening on regular volume, which makes it suspect. Real reversals come with volume explosions, not whispers.
The thesis is simple: this is a technical bounce in a downtrend, not a trend reversal. Until we see $0.090 hold as support with above-average volume, the bears still control the narrative.
The Plan:
📍 Entry: $0.072-$0.078 (wait for confirmation — the 7-day SMA zone)
🛑 Stop Loss: $0.065 (below the 99-day SMA at $0.081 — gives room but limits damage)
🎯 TP1: $0.090 (previous resistance that needs to flip to support)
🎯 TP2: $0.100 (psychological level and 25-day SMA proximity)
Risk/Reward: 1:1.5 — acceptable but not great. That's because the setup isn't great yet.
Are you buying RIF's bounce or fading it? Let me know your read. 👇
#RIF #CryptoBounce #TechnicalAnalysis
⚠️ Not financial advice. DYOR. Bounces in downtrends often fail.
The Picture:
Daily RSI at 42.9 and 4H RSI at 47.5 — both neutral, not screaming buy. Price ($0.0858) just barely reclaimed the 7-day SMA ($0.0879) but is still far below the 25-day ($0.1149). The daily moving averages are stacked bearishly: 7d < 25d < 99d.
Why This Matters:
Volume ratio of 0.96x — that's actually BELOW normal. Translation: no fresh money is rushing in. This bounce is happening on regular volume, which makes it suspect. Real reversals come with volume explosions, not whispers.
The thesis is simple: this is a technical bounce in a downtrend, not a trend reversal. Until we see $0.090 hold as support with above-average volume, the bears still control the narrative.
The Plan:
📍 Entry: $0.072-$0.078 (wait for confirmation — the 7-day SMA zone)
🛑 Stop Loss: $0.065 (below the 99-day SMA at $0.081 — gives room but limits damage)
🎯 TP1: $0.090 (previous resistance that needs to flip to support)
🎯 TP2: $0.100 (psychological level and 25-day SMA proximity)
Risk/Reward: 1:1.5 — acceptable but not great. That's because the setup isn't great yet.
Are you buying RIF's bounce or fading it? Let me know your read. 👇
#RIF #CryptoBounce #TechnicalAnalysis
⚠️ Not financial advice. DYOR. Bounces in downtrends often fail.