There is no change in overall outlook, so far. Riot Platforms ended the week on volatility in 10% range and maintains the price volatility above the double-bottom level [ 7.24 | 7.25 ] as well. And It's quite stating an impending trend change in various degrees!!
RIOT should have concluded the entire correction in Minor degree wave 2 by an ending diagonal as wave (c). As illustrated on the 45m-frame above, the wave (c) diagonally reached very close the anticipated Fib-expansion target at 7.27( where wave (c) = 1.618 wave (a) ).
And it occurs twice, forming a double bottom >> [ 7.24 | 7.25 ]
RIOT's extreme-low at 7.24 may considered as a significant extreme & reversal point! Because of that the contracting diagonal wave (c) which's although aligned with the two larger various degrees downtrend, but also that may respected as an ending pattern in which state of turn into the uptrend lies in as well.
So, technically retracing up to origin of the ending diagonal wave (c) at 11.92 in an impulse(in a five-wave sequence) will highly confirm theRIOT's trend reversal!!
#CryptoStocks #RIOT #BTCMining #Bitcoin #BTC
RIOT should have concluded the entire correction in Minor degree wave 2 by an ending diagonal as wave (c). As illustrated on the 45m-frame above, the wave (c) diagonally reached very close the anticipated Fib-expansion target at 7.27( where wave (c) = 1.618 wave (a) ).And it occurs twice, forming a double bottom >> [ 7.24 | 7.25 ]
RIOT's extreme-low at 7.24 may considered as a significant extreme & reversal point! Because of that the contracting diagonal wave (c) which's although aligned with the two larger various degrees downtrend, but also that may respected as an ending pattern in which state of turn into the uptrend lies in as well.So, technically retracing up to origin of the ending diagonal wave (c) at 11.92 in an impulse(in a five-wave sequence) will highly confirm the
RIOT's trend reversal!!#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.