Riot Platfroms has worked marching in place in two straight days, formed the double-bottom so far, and stating well an impending trend change in the various degrees!!
So the prior outlook remains intact >> bullish against the extreme low >> 7.24
RIOT seems to 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, in a double bottom >>
[ 7.24 | 7.25 ]
RIOT's extreme-low at 7.24 might be well 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 changing theRIOT's trend to the Upward!!
#CryptoStocks #RIOT #BTCMining #Bitcoin #BTC
So the prior outlook remains intact >> bullish against the extreme low >> 7.24
RIOT seems to 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, in a double bottom >>
[ 7.24 | 7.25 ]
RIOT's extreme-low at 7.24 might be well 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 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.