$RIVER ‌#Gate广场四月发帖挑战 Oh man, this market maker really doesn’t take a break. In the afternoon, it was swinging around 12.5, and by midnight, it dropped straight down to 11.3, a 6-point decline.

Look at those big players—they’re making a killing again, with unrealized gains back over 3 million. They’re playing it smoothly—shorting above 13, then covering around 11.3, buying and selling back and forth.
What’s the current situation?
Price is at 11.38, neither up nor down. The market maker still holds 14.8M in short positions, with a cost basis of 13.7, and unrealized gains are quite substantial. But look at the last half hour—they’ve started selling again, net selling 207K, indicating they’re still pushing the price down and don’t want it to rise.
What’s next?
Most likely, it will test lower again. The 11 level probably won’t hold. The previous low was around 10.5, which might provide some support.
Strategy:
1. For those wanting to short: wait for a rebound to 11.8-12 before shorting, targeting 10.8-11. Don’t chase a short at 11.3; you might get slapped back by a rebound.
2. For those looking to bottom fish: wait near 10.5. Once it hits, go in with a small position to buy, targeting 11.5-12.
3. For those who don’t want to do anything: keep watching. This market is more about doing than thinking—overtrading leads to mistakes, doing nothing is fine.
Remember: Don’t chase shorts below 11, don’t chase longs above 12. The market maker is very clever—don’t go against him.