$RIVER USDT, the situation is critical. The coin has crashed -24% in 24 hours, dropping from a high of $86.00 to a low of $53.15. It is currently trying to find support around $58 - $59.
Dead Cat Bounce" Trap 🐈
Analysis:
On the 1-Hour timeframe, the price is currently trading below the MA(99) which is at $61.22. This moving average has now flipped from support to heavy resistance. The current bounce from $53 to $59 looks like a classic "Dead Cat Bounce" (a temporary recovery).
Unless the price can reclaim $61.50 with strong volume, this rally is likely a trap for late buyers before another leg down.
Short Setup:
Entry: $60.50 - $61.20 (Rejection at MA99).
Stop Loss: $63.50.
Target: $53.50 (Retest of lows).$YALA $COLLECT
#ShortSignal #cryptotrading #BearishPattern #tradingtips #USIranStandoff
