Riot is another low cap volatile asset that keeps people afraid with its wild swings as I am seeing panic in my comments across platforms.
Price remains in momentum breaking out of the channel in a wave 3 with a minimum target of the 1.618 Fibonacci extension at $91, a 4x from here. Wave 2 completed at triple support- Fibonacci golden pocket, High Volume Node and channel boundary before quickly overcoming the weekly pivot and 200EMA. Breaking out above wave 1 is a show of strength.
Price should stall at the High Volume Nodes as supply comes in; $21, $40 and $57 but ultimately they should be overcome.
🎯 Terminal target for the business cycle could see prices as high as $112 based on Fibonacci extensions
📈 Weekly RSI is oversold with no divergence and can remain here for months as price keeps increasing.
👉 Analysis is invalidated if we close back below $9
Price remains in momentum breaking out of the channel in a wave 3 with a minimum target of the 1.618 Fibonacci extension at $91, a 4x from here. Wave 2 completed at triple support- Fibonacci golden pocket, High Volume Node and channel boundary before quickly overcoming the weekly pivot and 200EMA. Breaking out above wave 1 is a show of strength.
Price should stall at the High Volume Nodes as supply comes in; $21, $40 and $57 but ultimately they should be overcome.
🎯 Terminal target for the business cycle could see prices as high as $112 based on Fibonacci extensions
📈 Weekly RSI is oversold with no divergence and can remain here for months as price keeps increasing.
👉 Analysis is invalidated if we close back below $9
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