RIVER has fallen by -22.95% in the past 24 hours and has entered the oversold zone. But at this point, one should pay attention to a problem—total holdings have decreased by 45.53%, indicating continuous capital outflow, and the bottom signal is still not clear enough.

From a trading perspective, a dual-direction strategy is more reasonable. If going long, I would patiently wait for a pullback to the $18-19 range, and confirm a reversal candlestick on the 4-hour chart before entering. Never rush to buy the dip; during this accelerated decline, it's easiest to catch falling knives.

Conversely, for shorting, the strategy is to wait for a rebound to around $22-23, observe whether it can break through failure, and then short on rallies. The key is to maintain the structure—if long positions break below $17.5, cut losses decisively; if short positions stay above $24, withdraw immediately.

Currently, the total liquidation amount is about $10.12 million, with bears in the lead. The funding rate is negative at -0.0887%, and the long-short ratio is 0.83, leaning towards the bears. All these data points indicate that the market is still searching for a bottom. The biggest trap is chasing during rapid declines, which often leads to repeated washouts. Keep an eye on the price structure, and once a clear breakdown signal appears, cut losses decisively.