$RIOT retracement near completion?

Riot appears to have completed a wave 1 and almost finished its wave 2 retracement with 1 more push lower expected.

Price is just above the daily 200EMA, golden pocket Fibonacci retracement with daily RSI approaching oversold! This are should offer strong support.

Price sitting just below the weekly pivot and 200EMA which offers additional support in this area.

Bitcoin stocks have all had a decent retracement causing me to upgrade my Elliot Wave count to a completed macro wave 1 with wave 2 now underway, suggesting the best returns are still to come over the next months for this category asset class in wave 3!

Analysis is invalidated if we go to new highs above $15.3 or lose $6.18

New long signals are certainly building in the DEMA PBR and Price Action strategies so keep an eye out on the Trade Signals Substack as we have made very good profits lately in these markets!

Safe trading