RIOT Macro analysis | The bigger picture | Long-term holders
By:TradingView
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RIOT caught a bid at the weekly 200EMA and golden pocket Fibonacci retracement of wave 1, and is now above the weekly pivot, with a new local high showing bulls dominating the trend.
The next target is the $40 High Volume Node and R3 weekly pivot. Wave 3 has a minimum target of $40. I am eyeing $80 for the terminal bull run target.
📈 Weekly RSI hidden bullish divergence played out, and is now showing bearish divergence, expected to be negated in a strong uptrend.
👉 Analysis is invalidated if we close below the orange trend-line and weekly 200EMA.
Safe trading
The next target is the $40 High Volume Node and R3 weekly pivot. Wave 3 has a minimum target of $40. I am eyeing $80 for the terminal bull run target.
📈 Weekly RSI hidden bullish divergence played out, and is now showing bearish divergence, expected to be negated in a strong uptrend.
👉 Analysis is invalidated if we close below the orange trend-line and weekly 200EMA.
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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