RIOT: bullish count as long as 5 waves completes
RIOT is chugging along since the low made in September. As BTC is holding major support areas, RIOT is getting the tailwind it needs to move forward. The price action looks bullish; but we have not seen a full 5 wave sequence. We need to see a few more higher highs and higher lows and get close or above $13 resistance level to have some kind of confidence that bull cycle has started. Keeping in line with BTC, after the minute degree wave 1 is complete, the whole market will plunge into a correction for a few months. That will be a true test of this bull market. If price can hold above $8 support, then sky will be the limit once we get out to the other side of correction....
If price breaks below $8.52 now, then this count is invalid. We might see a larger leading diagonal or a deeper correction might still be intact for intermediate 2.
If price breaks below $8.52 now, then this count is invalid. We might see a larger leading diagonal or a deeper correction might still be intact for intermediate 2.
Note
Minuette 3 looks complete and minuette 4 can go down to the box area. Below the red line, this run is done.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.