$RIVER ‌ This market maker really knows how to stir things up.

This morning it surged to 13.4, and now it’s been smashed back to 12.5—up and down like a yo-yo. Look at the data: those big players have started selling again. In half an hour, their net sells are 269K—several times more than their buys. They still hold 15.5M short positions, with an average cost of 13.9. Now at 12.5, they’ve got an unrealized profit of 1.76 million.
Simply put: the market maker thinks they pumped too much this morning, so they’re starting to press the price down again. They don’t want the price to run too high because the shorts in their hands haven’t all been closed—if the price rises too much, their profit disappears. So they push up a bit, smash down a bit, and wash it back and forth.
What happens next?
Most likely, it’ll keep oscillating between 12 and 13.5. Within this range, the market maker will slowly close their shorts: when it goes up, they sell a bit (press it down); when it drops, they buy a bit (cover). It won’t suddenly pump up fast, and it won’t suddenly crash through either.
On the trading side:
If you want to follow along, try going long with a light position around 12. If it goes above 13, run—don’t get greedy.
If you want to short, wait and see again once it’s above 13.5; the current level is stuck—neither up nor down.
Don’t chase pumps or dump at the lows—it’s easy to get slapped back and forth.
Remember: since the market maker is still here, this coin still has room to play—but don’t get carried away. Just trade with a small position.
I don’t even know when I put my short order—I forgot about it, and I even kept adding! #Gate广场四月发帖挑战