msr6773
Oct 8, 1:31 AM
$RIOT daily printed a red hammer. Could be reversal. However, a stronger indication of a reversal would be a green hammer. MACd at -0.51, bearish momentum still gaining since the previous day. RSI at 37. Still approaching oversold territory. I expect a dead cat and more pain. Maybe close the gap around 19 and test the end of Aug/early sept lows. Price is trading under short and medium term MA (5,10,20). This will act as overhead resistance. If tomorrows candle breaks below todays wick low, this confirms structural channel failure. Next target would be 16.8x to 17.4x. Bullish invalidation would be 19.2x to 20.5x close above the 5 and 10 MA. GLTA 🤙
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