On Friday, Riot broke a key support at $14 and is not trying to find support.
The next support levels are all in the single digits. I do think the support at $9 will likely break and that we'll end up somewhere between $3-6. Let's see what happens in the coming weeks.
Comment
⋅
Almost to the single digits w/ momentum looking like it's accelerating to the downside. Look out below.
Comment
⋅
Now into the single digits... still think there's more downside w/ a capitulation move down to $4-6
Do you Think that Riot Blockchain is going up to $14 in a future?
benjihyam
⋅
@a01781685, Yes, there will likely be a retest of that level later in the summer or into fall.
canbaco
⋅
It seems to me we are for a ride up in the near term
benjihyam
⋅
@canbaco, Possible to bounce to $13 to retest that support as resistance... but any bounce should just be shorted or just an area to get out if you're long. The trend is down.
canbaco
⋅
I tend to disagree. Positive trend of markets has not yet broken resistance. Same goes for BTC. All this covid and supply drama will go away and still don't think a few rate increases is going to break markets. It is ultimately on RIOT to show growth and indicate a clear path forward for the 500M option to sell stocks. I see a $20 target in the next 2-4 weeks.