$RIVER Violent rebound of 8%! Is the golden cross a reversal or a trap? Don't be fooled by the rebound, continue short!

Crypto friends, don't rush to chase!

RIVER suddenly had a violent rebound today, rising nearly 8% at one point, from 12.6 to above 13.6. Doesn't it look tempting? But I must remind you — the overall trend today is still downward, this rebound is just a technical correction in the downtrend, not a reversal signal.

Let's look at the technical side, this is the key.

On the 1-hour K-line chart, although RIVER rebounded today, if you look closely — the MACD is in a golden cross, but the DIF and DEA are still below the zero axis, and the histogram has just turned red, this is a weak rebound golden cross in a bearish trend, not a trend reversal.

The price is still around 13.6, with a distance from the key resistance level of 14.2. The trading volume has increased moderately, but that is due to short covering and bullish testing, not real buying interest. RSI at 59.6 has just returned to the edge of the strong zone, but has not stabilized yet. This kind of golden cross is likely a trap, it will bounce a bit and then continue to fall.

Technical summary: The golden cross is a rebound, not a reversal, the bearish trend has not broken.

Zhao Gongming's opinion is very clear:

At this position, I won't chase long, I see a short, the rebound is an opportunity to short.

Don't let a single bullish line change your worldview, before the trend changes, any rebound is an opportunity to short. Chasing high now is just catching the falling knife.

Retail operation advice:

Do not chase high, the risk of entering now is extremely high;

The rebound is a short, look for opportunities at 14-14.5, first target 14, second target 13.5; where is the safest stop-loss? Gongming has already given reminders in the chat room!

Will this rebound really reverse? At what position is it safest to short? These details, I only discuss with the followers who keep up in the chat room. Follow Gongming, join Zhao Gongming's 聊天室, and let you enjoy the gains without getting lost! #特朗普希望尽快结束对伊朗战争 #BTC行情