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Undees
Dec 22, 2020 10:55 PM

Resistance being met Long

Riot Platforms, Inc.NASDAQ

Description

I would be very cautious into the new year with this stock. Looking into the gains we are seeing it will be difficult to move out of these resistance bands as we have met some heavy resistance since falling off of average volume today.

I was stupid to sell this a few days ago, but taking any form of profit is never stupid. Realize your gains at this point and take at least 25% of your chips off the table until we meet another buy spot.

Long term this is still running its course and will look to gain more, however over the next week or two I think we could see a few red days if Bitcoin decides to take a dive.

Comment

As predicted bitcoin takes a dive over the next few days... Look to reenter tommorow or the next day

Comment

LATE UPDATE: This stock is running the top here. Be careful and watch for a bullish flip over the red line.
Comments
Nineacrecourt
This stock is undervalued, should be at $45. This is similar to the 2018 price.
Undees
@Nineacrecourt, I agree however the stock market does not it is the one we answer to. They are in the business of printing Bitcoin. They are purchasing close to billions of dollars of tech that could very well be obsolete next year. This is still a risky stock.
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