$RIVER /USDT LONG
Entry: Market Price ~$6.0 – $6.20
SL: $5.60
TP: $6.25 — $6.45 — $6.70
Why this setup?
- RIVER is recovering from a massive 75% monthly drawdown and a recent dump to $5.38. The current move is a high-volatility "dead cat bounce" or local reversal.
- Buyers are forming a ranging upside move on the 15-minute chart, successfully absorbing the remaining selling momentum from the previous session.
- Sentiment is bolstered by news of Federal Reserve nominee Kevin Warsh citing River’s Bitcoin research in Senate hearings, elevating the project's institutional profile.
- The $6.70 target aligns with the local resistance zone. A break above this could test the psychological $7.00 barrier.
- SL at $5.60 is placed just above the recent $5.38 low to protect capital if the bearish trend resumes.