SSF-SlingshotFutures

$RIOT Crypto Backed Breakout Coming?

Long
NASDAQ:RIOT   Riot Platforms, Inc.
$RIOT has been grinding higher for a few days now and creating a strong base on this pullback to previous structure. Sellers are still in charge with lower highs and at least double bottoms so the best the buyers can hope for is a short-term bounce to form a range. If the buyers can't maintain strength on a higher low (green path), then the longer term deeper dip would be next (orange path). Either way, it appears like buyers are interested, it's more just a matter of timing for now. With the crypto markets pushing nicely up this weekend, that may be the fuel they need to break through wedge highs and get things going.

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.