RIOT - Wyckoff Accumulation Complete - Signs of Strength
Riot has been lagging behind despite the massive pump on bitcoin.
Why? Well, most likely the price was being suppressed so big bags could accumulate more.
See the textbook Wyckoff accumulation pattern in the image.
You can see where the price was pushed down as it started to take off
Now we are at the signs of strength phase
I expect within a week or two to test the top edge of the wedge and most likely breakout to the upside along with new highs from bitcoin.
Why? Well, most likely the price was being suppressed so big bags could accumulate more.
See the textbook Wyckoff accumulation pattern in the image.
You can see where the price was pushed down as it started to take off
Now we are at the signs of strength phase
I expect within a week or two to test the top edge of the wedge and most likely breakout to the upside along with new highs from bitcoin.