RIOT 📊Technical UpdateRIOT has surged 33% this week, slightly surpassing the projected key target at 16.17—potentially signaling a peak or the completion of the final wave within the current structure.
📈Wave Analysis
The final advance in impulsive Minute Wave v (circled) appears to have completed at 16.83, likely marking the termination point of Minor Wave 5, which now exhibits a mature structure and signs of exhaustion within the broader Leading Expanding Diagonal in Intermediate Wave (1).
This structure sets the stage for a correction of equal degree, as Intermediate Wave (2) begins—presenting potential re-entry setups aligned with the broader bullish primary trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.