📆 Timeframe: Daily (1D)
📈 Current Price: ~$13.56
🪙 Key Correlation: Moves in strong tandem with Bitcoin (
BTC)⸻
🔧 Chart Analysis Summary
RIOT has approached a major confluence zone just below $14.06, where several resistance levels, order blocks, and fair value gaps converge. Historically, this zone has rejected price multiple times, making it a critical inflection point.The technicals suggest a binary outcome is likely in the near term:
⸻
🟢 Upside Scenario – Target: $17.35 to $17.88
If RIOT breaks above the $14.06 resistance with conviction:
• Price could push quickly toward $17.35–$17.88, where:
• Multiple historical supply zones exist
• Large prior rejection candles originated
• LuxAlgo and order block indicators flag institutional interest
• Momentum would likely align with a concurrent breakout in Bitcoin above $120K
⸻
🔴 Downside Scenario – Target: $10.12 to $9.70
If RIOT fails to close above $14 and loses $12.93 support:
• Expect retracement toward:
• $12.05
• $11.50
• Key demand near $10.12–$9.70
• These zones are backed by previous price consolidation, fair value gap fills, and historical bounce levels.
⸻
🔗 Bitcoin (
BTCUSD) Connection📉 Current BTC Price: ~$117,747
BTC has recently:
• Tagged a long-standing resistance band ($119,182–$120,000)
• Rejected sharply with multiple fair value gaps below
• Holding trendline support, but weakening structure is visible
If Bitcoin breaks below its trendline, a move toward $91K–$92K becomes likely — this would drag RIOT down with it.
If Bitcoin breaks above $120K, momentum could surge across crypto-exposed stocks, and RIOT may follow with a rapid leg up.
⸻
🎯 Conclusion
Scenario Trigger RIOT Target
✅ Bullish BTC breaks $120K $17.35–$17.88
❌ Bearish BTC rejects + loses trendline $12.05 → $11.50 → $10.12–$9.70
⸻
❓Your Turn:
Do you think RIOT breaks out or breaks down?
Let’s see how this unfolds.
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.
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.