RIOT bullish falling wedge!
As many of my followers know, I am typically not one to talk about stocks (as my username indicates, I largely talk about cryptocurrencies). However, I do typically make exceptions when the stocks deal with crypto and/or blockchain.
In this example, I want to call out the falling wedge that has occurred with RIOT blockchain. Since the all-time high (ATH) at the beginning of 2021, the price has falling over 85% to the bottom of what looks to be a falling wedge that is forming, which is often a bullish sign. This bullish trend looks further confirmed by MACD forming a nice "reversal" divergence (dotted white lines on price and MACD) indicating that a reversal very well might be in order soon.
There is still some downward potential however, and the general market for both stocks and BTC could easily drag the price of RIOT further down, however, the trend for now looks like a reversal is at least possible for RIOT.
But as always, this is just my opinion and in no way should be taken as financial advice. However, please like or comment if you agree or see anything in addition.
In this example, I want to call out the falling wedge that has occurred with RIOT blockchain. Since the all-time high (ATH) at the beginning of 2021, the price has falling over 85% to the bottom of what looks to be a falling wedge that is forming, which is often a bullish sign. This bullish trend looks further confirmed by MACD forming a nice "reversal" divergence (dotted white lines on price and MACD) indicating that a reversal very well might be in order soon.
There is still some downward potential however, and the general market for both stocks and BTC could easily drag the price of RIOT further down, however, the trend for now looks like a reversal is at least possible for RIOT.
But as always, this is just my opinion and in no way should be taken as financial advice. However, please like or comment if you agree or see anything in addition.
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