RIOT may have concluded the entire correction in Minor degree wave 2, and might be stating an impending trend change in various degrees!!Accordance with the prior wave analysis on the
RIOT's 2h-frame, the wave (c) diagonally achieved the anticipated Fib-expansion target at 7.27 ( where wave (c) = 1.618 wave (a) ).And It's implying that the diagonal wave (c) would not be extended more. Hence, the last day's extreme-low at 7.24 could be well considered as a significant extreme & reversal point! Because of that the ending diagonal wave (c) which's aligned with the two larger various degrees downtrend, but indicates an impending trend reversal in the same degrees as well.
So, retracing up to origin of the ending diagonal wave (c) at 11.92 in an impulse(in five-wave structure) will highly confirm changing the
RIOT's trend to the Upward!! #CryptoStocks #RIOT #BTCMining #Bitcoin #BTC
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.