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$$RIF Surged 28.78% in 24 hours, from 0.0686 to 0.0928. During the same period, BTC consolidated near 67k. The Federal Reserve's rate cut expectations just pushed liquidity into altcoins. This wave of RIF's trading volume reached $24.4 million, three times that of a few days ago. Are you staying on the sidelines with empty positions or have you jumped in?
The logic of this wave is very clear.
The BTC/BCH hard fork expectation activated the RSK ecosystem. RIF, as the core token on RSK, directly benefited from the liquidity overflow. I pulled some data: RIF accumulated buy orders of 4.5 million USDT in the 0.07-0.08 range, while above 0.093 there were only 1.2 million sell orders. The funding rate and open interest both rose simultaneously, with bulls clearly in the advantage. More importantly, the BTC daily MACD had a golden cross. If the broader market breaks through 68k, RIF will likely surge to 0.1.
In terms of operations, I placed a spot position at 0.089, with stop loss at 0.082 (if it breaks below this level, it means the major players are distributing), first take profit at 0.098, second take profit at 0.105. Position size should not exceed 5% of total capital, after all, RIF is a small-cap coin with high volatility. If it fails to break through 0.0928 tonight, it may pull back to 0.085 to accumulate strength again; don't chase high.
Did you catch this wave? Anyway, several market maker friends on my social feed are sweeping up the coins; on-chain data doesn't lie. Don't slap your thigh only after the media publishes flash news. Right now, around 0.09 is the battleground.