The RIOT (Riot Blockchain Inc.) Active Long Swing Trade has hit the second price target, T2 at 1.78, for a 29% total gain (or 11.6% gain factoring in the 0.40 beta-adjusted position size). Consider booking partial or full profits and/or raising stops if holding out for T3. In order to assure a profit on the trade, the suggested stop for those holding out for T3 will now be raised to 1.44.
RIOT daily Feb 12th
Although the charts of both Bitcoin & RIOT remain constructive with more upside likely in the coming weeks to months, as long as GBTC & /BRR hold above yesterday’s breakouts, it appears the odds are decent for a near-term pullback at this time, possibly back down to the uptrend line and/or 1.50 support level. As such, one could either tighten up stops to let the position ride as RIOT could very well power through this level & continue up to T3 or book profits here & possibly recycle back in if we get a pullback to those aforementioned intersecting support levels.