The Long Investor

$RIOT

Added 2023-04-14 10:22:56 +0000 UTC

This has burst through our initial target for Wave 3 and went straight to Wave 5, so a lot of buyers have stepped in here. This is going parabolic now and if it wasn't Wave 3, I would be concerned but bulls want to see this behave in a structured manner and look for Wave 4 soon, I have set Wave 3 at the 2.618 Fib now which is very extended, usually we see Wave 3 only go as far as the 1.618 Fib.

I suspect the rise in Crypto related stocks today is due to the banking reports due today, so I think we can gather from this that the market feels more money will be moved into Crypto and earnings may not be terrific.