⚠️ $RIVER Single-day drop over 15%, plummeting from around $5.5 to $4.7! The market is in despair, let's calmly analyze.
📉 Analysis of the reasons for the drop:
1. **Technical breakdown**: After a continuous decline, the 7th 15-minute candle showed a significant long bearish candle (-5.97%), directly breaking through the previous consolidation range, triggering long stop-losses and algorithmic sell orders.
2. **Emotional reversal**: In a high-volatility market (average volatility 3.18%), a strong bearish candle triggered panic selling, with follow-up selling continuing.
3. **Divergence in volume and price**: During the sharp drop, trading volume surged (the volume of the 7th candlestick reached 380,000), confirming the dominance of bears.
⚡ Short-term strategy:
Currently, the candlestick pattern shows "5 consecutive bearish candles in oversold territory," so it's not advisable to chase short!
- Aggressive traders may try long positions lightly in the $4.60-$4.70 range, with a stop loss at $4.55, aiming for a technical rebound to $4.95-$5.10.
- Conservative traders should wait for a "bullish candle body ratio >50% + increase in volume" to re-enter on the 15-minute chart.
(Data source: recent 15-minute candlestick statistics, volatility has reached 8.56%, pay attention to risk control!)
