RIOT: long until the channel breaksRIOT has hit a snag and has been consolidating as Bitcoin struggles to breakthrough 30K ceiling. With the current macroeconomic headwinds from debt ceiling clown show to fade rate circus it is not unexpected that BTC may fall back to 20 K support. If that happens, then RIOT will also take a hit and the current bull case might be in jeopardy. But I am still hopeful as the price action looks much more like a wave 4 correction than a big impulse to the downside. Until the channel breaks, I will stay long with $21 target. Will go short if the bull count is completely invalidated below $7.76. I don't short BTC but use RIOT and MSTR as a proxy to short crypto market.
