RIOT Macro analysis | The bigger picture | Long-term holders
By:TradingView
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RIOT looks stronger than most miners and remained in a bullish structure during the recent downturn. It continues to catch a bid at the weekly 200EMA and golden pocket fibonacci retracement of wave 1, and is now above the weekly pivot. The key $19 resistance remains tough with 5 tests, each test weakening the node and increasing the probability of a breakout. Wave 3 has a minimum target of $40. I am eyeing $80 for the terminal bull run target.
📈 Weekly RSI has hidden bullish divergence and is playing out
👉 Analysis is invalidated if we close below the orange trend-line and weekly 200EMA, back in the range
Safe trading
📈 Weekly RSI has hidden bullish divergence and is playing out
👉 Analysis is invalidated if we close below the orange trend-line and weekly 200EMA, back in the range
Safe trading
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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