RIOT (Riot Platforms) has just hit the final target (T3) for about a 60% gain from the April 21st entry off the lows. Initial (April 21st) & updated daily charts below.
RIOT daily April 21st
RIOT daily June 6th
Due to the fact this was the final price target (where trend reversals typically begin) coupled with the fact that RIOT now has potential negative divergences forming between prices & the momentum indicators …AND… this final thrust up coincides with the expected (and realized) bounce off the initial tag of the first price target on the Bitcoin short trade with that initial reaction likely over or close to over, that helps to support the case for booking full profits RIOT & reversing to a short position with stops somewhat above.
/BRR hit the first price target* last night, followed by the typical reaction today, bringing Bitcoin back up to the downtrend line (resistance) & thereby, offering an objective re-entry for those that covered and/or reversed off T1. Previous (May 23rd, showing the trade setup with the previous, May contract) and updated (June contract) 120-minute charts of /BRR (Bitcoin futures) below.
BRR-120m-May-23rd
BRR 120m June 6th
* /BRR rolled from the May contract when I first posted the setup on 5/23 to the June contract, so while the targets are at the same previous reaction points, the price levels have changed slightly on the June contract.