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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פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.