After the reversal end of February, we are in dire need of big news from Lucid Motors.
They need to deliver on their plan of making 20-30k cars in their new facility in Arizona.
Leading up the the sell off/reversal, people were buying into the rumour.
Until it sold off right after the news hit that the merger is going to happen.
The stock needs some good catalyst...
Earnings coming up and it could go either direction when the trend line meets at the symmetrical triangle.
Volume needs to be picked up as today it was around 1/2 of the average volume we typically see in RIOT.
Price movement is very similar to Bitcoin but on a much smaller time frame.
Of course, demand for GME was heavily from retail beating of short whereas Bitcoin itself is a digital currency with a different motivation to buy.
But if the movement is oddly similar to XBTUSD, and could be looking at mid April for big up sell if it follows.
KRAKEN:XBTUSD
There was a big gap up in demand 9am - 11am.
Potential breakout to previous ATH @ 2.45
If tomorrow doesn't support the @ 1.72, it might drop back to previous support the 1.4 - 1.5 range.
1 month view suggest this is bullish.
