RIOT may have concluded the entire correction in Minor degree wave 2 by an ending diagonal as wave (c), and it might be stating an impending trend change in various degrees!!As illustrated on the
RIOT's 45m-frame above, the wave (c) diagonally has reached very close to the anticipated Fib-expansion target at 7.27 ( where wave (c) = 1.618 wave (a) ). And it's twice, in a double bottom >> [ 7.24 | 7.25 ]
All these are implying that the diagonal wave (c) would not be extended more. Hence, the extreme-low at 7.24 might be well respected as a significant extreme & reversal point! Because of that the ending diagonal wave (c) which's although 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 a five-wave sequence) will highly confirm changing the
RIOT's trend to the Upward!!#CryptoStocks #RIOT #BTCMining #Bitcoin #BTC
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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.