RIOT: Showing strength; is it time to go long?Riot Platforms, Inc.NASDAQ:RIOTmukit1In my last analysis, I was keeping a close eye on the support band. Even though the band was breached, it has been recovered very quickly. Moreover, price has made a 5 wave move up on recovery. RSI has reset in multiple timeframes, indicating that a new leg has started. The retrace will have a very good setup for a long. EW perspective, looking at 1/2 setup for a larger 3 of 3. So far, most likely only the A wave of ABC has completed or very near completion. We should see a move up and another leg down in the next couple of weeks or so. At that point, the old support band will once again come into picture. If price breaks below the support zone again, then the relative strength on the move up will be significantly diminished. If price gets support on the 0.5 fib to the golden zone area, we should see a powerful move to the upside. If that area breaks, then things might not be what it seems. Either case, since the move up has been in 5 waves, we should see another move up of equal size, even if it turns into a corrective move. I will plan on going long on the fib areas along with support for at least for the next move up. Stop loss will be fairly easy to set on the last low $17.44.