Riot on uptrend into ETF season

29 нояб. 2023 г.

Riot is on an overall uptrend on the weekly chart. The stock has been all over the place and extremely volatile, not always trending with BTC directly. The weekly RSI is taking a shot at a contraction breakout currently and volume is on a major uptrend. A previous trend line that served as support must be taken out as resistance for this move to really gain steam. My 12$ calls have printed since my posting regarding that. Three weekly EMAs have been taken out with only the 200 remaining. 200 moving averages being taken to the upside generally signal a macro reversal in momentum. If Bitcoin really hits my 40k price target for December, I see the teal resistance being tested which is 19-20$ for December. This area is also the .382 fib that was rejected which serves as a harsh resistance. Remember these price targets are for the price to be hit, not held. I still standby a 40k BTC then correction to previous resistances.