RIOT Gann Fan Moving Averages Cross

7 giorni fa

RIOT

Impressive chart history. Made this Gann Fan which is worth zooming in on to see the different lines it touches when at a high and zones it enters of consolidations. In addition made some trend lines to help point toward direction I see this stock moving. Moving averages look good. Going to go through what I see there as we are going to see the cross of 50 day moving average and 200 day moving average.

First trend line goes back to 2011 when we see the stock was 160. Looking at this line you can see the consolidation around this area before going down to new lows. This trend marks an important part of chart history as you can really make new high ranges beyond the point of 160 area. I use this important line to mark the potential to touch this line on a high.

Next Trend is great. 2015 is when you have 50 day moving average cross the 200 day moving average on a downward trend to go to new lows, which is a great starting point of the trend line. Connected this trend line to the top of each high at 2017 and 2021. This showed some improvement in what you can expect from this stock, to go and touch that trend line.

"Star" shows the area I am looking for in this stock. The trend lines show great connection and really points to what to look at when reaching this area. "Star" works so good as you can see the touch points on each line as well, which really just worked in our favor to show us what can happen. Watch for the "Star"

50 day moving average is black.
100 day moving average is purple.
200 day moving average is blue.

Moving averages on this stock show recently that the 50 day moving average recently crosses the 100 day moving average, which is bullish direction. Next looking for 50 day moving average to cross 200 moving average, which is very bullish. The momentum and volatility can pick up and start really moving like we have seen before. Zoom in to get a better look.

The range in the Gann Fan where the "Star" is, can be good to look at. This range is an important range which has seen consolidation before and I see this stock getting back there.

RIOT BTCUSD