I came into today’s Flow Show not having much of an appetite for any aggressively bullish bets. But by the show’s end, I’m putting on a straight gamble! How the hell did that happen? Watch the video above to find out.
The chart and setup that piqued my interest is this one in Riot Platforms $RIOT:
Now that the Bitcoin “halving” is out of the way, will the prior RIOT/Bitcoin correlation that was strong until the last three-ish months reassert itself?
And if it does, will $RIOT catch up to Bitcoin? Or will Bitcoin catch down to $RIOT?
Judging by the basing action we’ve witnessed in Bitcoin in recent weeks, I think the next big move is higher. And if $RIOT “catches up”? It could be a monster winner in a hurry.
Bonus kicker: Riot Platforms announces earnings on May 8th. That could be the big push we need.
Here’s the Play: [Read more…]