Def took a big hit. Massive rejection up abov 60$ today. Once again it couldn’t flip 54$ 57$ or 59.30 into support
The problem is BTc at all time highs with a lot of fear of Bitcoin being close to a potential top very soon
Usually when BTC finds a top, altcoins start mooning hard. With that known indicator it’s going to cause extreme voltatile shaky hands in RIoT more then anything
That being said we have still been maintaining inside this traingle. The lower support line goes as low as 48.64 -49$ level. We have been making higher highs and higher lows since we have been running back from the 34$ lows.
Riot had a great run to 80$ at one point. Now there is resiatnce above an many trapped buyers up there. There will now be more resiatnce and sellers getting out this pattern has until 20th to play out one way or the other
I got stopped out and I am way more uncertain which way this will go, but for now I am bullish on BtC as it is flipping old resiatnce to support therefore as long as this continues RIot ideally should remain bullish
The problem is BTc at all time highs with a lot of fear of Bitcoin being close to a potential top very soon
Usually when BTC finds a top, altcoins start mooning hard. With that known indicator it’s going to cause extreme voltatile shaky hands in RIoT more then anything
That being said we have still been maintaining inside this traingle. The lower support line goes as low as 48.64 -49$ level. We have been making higher highs and higher lows since we have been running back from the 34$ lows.
Riot had a great run to 80$ at one point. Now there is resiatnce above an many trapped buyers up there. There will now be more resiatnce and sellers getting out this pattern has until 20th to play out one way or the other
I got stopped out and I am way more uncertain which way this will go, but for now I am bullish on BtC as it is flipping old resiatnce to support therefore as long as this continues RIot ideally should remain bullish
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.