Watching this RIVER chart is infuriating! Early in the morning, it made a wild pump, thinking the sharks were in to push it up, but when it reached over $3, it got smashed down immediately. The long red candle from 7 AM until now is just merciless dumping, wiping out all hope.
But you guys pay close attention to that heatmap below. The flow of money is starting to consolidate layer by layer. The 2.3-2.4 area seems to be easily broken, but the further down to 2.1-2.0, the darker green bar becomes more pronounced. This is clearly a strong liquidity area, where sharks are waiting, or the take profit/cut loss point for many orders.
The price is hovering right above the 2.0 mark, with a few small green candles appearing after a series of red ones. This could be a temporary reversal signal after a horrific sell-off, or the bulls are trying to hold on.
This is the time to be extremely alert. One is to catch the knife, wait lightly to escape if it goes wrong. The other is to wait for it to break down below 2.0 to short for another good opportunity. This 2.0 mark is currently a critical point, guys. Be careful or RIVER will sweep everything away! Look at the nearest candle, can it rise or will it dive again? If buying, be very careful!
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