If we zoomed in, Wave (v) of 3 in this chart also has 5 clean subwaves, with 4 testing the top of 1. could be accurately mapping the emotions behind traders on this stock.
I will wait to see support gets tested again. Another day of Bitcoin consolidation could do it. With such a dangerous stock, I have to wait for better risk-reward. Feels good to be alive, doesn't it?
A gap fill tomorrow could also be bought with a tight stop.
I went long at 15.53 with a stop under 14.7, or breaking back below half the flag. A stop under the flag would be safer. However I am an irresponsible gambler whose position size is too big, thus forced to have a tighter stop.
That really depends on how Bitcoin performs. Theoretically, if crypto becomes the safe-haven play in these uncertain times, then a wave 5 in RIOT or any crypto would make new highs. But that's far from guaranteed. In fact it's probably wiser to wait and see if Bitcoin can break this downtrend line first.