RIOT: Do or Die timeI am going back on forth between two counts, both bullish for the time being. It is all about how wave 1 completed. I have readjusted wave 1 as leading contracting diagonal which has several impulsive moves but still in 3 waves, making things very difficult count. The May low is deep enough to be wa
Key facts today
Riot Platforms reported a beneficial ownership of 10.29% in Canadian bitcoin miner Bitfarms.
−0.420 USD
97.17 M USD
334.55 M USD
About Riot Platforms, Inc.
Sector
Industry
CEO
Jason Les
Website
Headquarters
Castle Rock
Founded
2000
ISIN
AR0375251839
FIGI
BBG01MDJW543
Riot Platforms, Inc. is a bitcoin mining company, which engages in the provision of special cryptocurrency mining computers. It invests in Verady, Coinsquare, and Tess. It operates through the Bitcoin Mining and Engineering segments. The Bitcoin Mining segment focuses on maximizing ability to successfully mine Bitcoin by growing hash rate. The Engineering segment designs and manufactures power distribution equipment and custom engineered electrical products that provides them the ability to vertically integrate many of the critical electrical components and engineering service. The company was founded on July 24, 2000 and is headquartered in Castle Rock, CO.
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$RIOT Continues to Follow PathNASDAQ:RIOT Is sticking closely to the plan testing the bottom and top of the channel multiple times.
Price closing above the weekly 200EMA and weekly pivot Friday will be a very bullish signal. As we have over 4 tests of the upper boundary resistance there is a high probability we break through a
RIOT / 3hNASDAQ:RIOT has exceeded 12.12, which I'd considered as a validating line at the extreme high of that leading diagonal in my prior analysis. Hence, the leading diagonal as the entire wave (1) is not valid now.
Wave Analysis >> According to this adjusted wave count, wave 1 and 2, i(circled) and i
$RIOT Hit The Target Whats Next?NASDAQ:RIOT hit the descending orange resistance were I took partial take profits on my trade this week and it was immediately rejected as expected.
Price is now above the weekly pivot so that is the next support. This level also matches the weekly 200EMA.
Wave (II) hit the 'alt-coin' golden pock
RIOT / 3hAccording to the adjusted wave count in this 3h-frame, the continuous advance in NASDAQ:RIOT may be considered as an ending diagonal in the 5th wave of the one larger degree leading diagonal as wave (1), which could have remained in the late stages!
Wave Analysis >> The Minor degree wave 5 migh
RIOT / 2hNASDAQ:RIOT traced out the retracement in wave B in a three-wave sequence upward. Now, a 24% decline lies ahead to develop wave C as the final subdivision of the ongoing correction in wave (2).
Trend Analysis >> The trend may remain correct downward in the Intermediate degree wave (2), which wi
RIOT / 2hThe retracement up in wave B has reached the anticipated target at 10.38, although that's not traced out like a flat or zigzag formation in a three-wave sequence.
A following decline of 20% lies ahead to develop the wave C as a final subdivision of the ongoing correction in wave (2).
Trend Analys
RIOT / 2hAccording to the NASDAQ:RIOT 's prior analysis, Minor degree wave B is retracing upward, as I'd outlined at the end of the second paragraph in the note on the chart.
Wave Analysis >> The leading diagonal in Minor degree wave A, is correcting up now in the same degree wave B which would develop in
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