Long

Riot Blockchain solidified support for a move to the Upside.

Updated

Riot Blockchain has been overlooked over the last few months. As Clearly seen on the chart, the correlation to Bitcoin's movements is closely correlated.
> I Believe that an ascending support line has been tested multiple times but both Riot Blockchain and Bitcoin.
> With the momentum driven by earnings season in the stock market providing significant upside potential for all equities, especially in the Tech Space.
> Combined with Bitcoin's Recent strong upwards momentum from yet another confirmation of strong support.
> We are likely to see a rapid rise in the price of Riot over the next few weeks. I think this is an ideal range to DCA at the lowest risk level we have seen Riot Blockchain range in for a significant time.

1) Be greedy when others are fearful.
2) If you believe in a Companies business and promising future outlook. Don't let a discount be the reason NOT the DCA in lower to a stock you believe will be significantly higher in the long term.
3) The fundamentals are one, if not the strongest in the mining business. With huge mining capacity coming online over the next few months.

>>> Eyes on the Medium to Long Term Chap <<<

Just one Long term focused Investor/Traders Opinion, not financial advice.

Note

Fixed a few of the typos on the new post. Apologies on the mistakes.

Note

We are resting right on that support line. I have confidence it will hold but this market is crazy. Most of the dry Powder has been a put to work.

Note

Bull Trap occurring? BTC up but Tech down today.

Note

Looks like the Equity market intense selloff has dragged RIOT Blockchain below the support line. Bitcoin is still holding for the moment. It's a heavy sell off in general but in times of intense sell off, we see capitulation from many Investors.
>> I believe the drop of Netflix to 218 is a highlight of what capitulation looks like. I am Surprised that seasoned investors such a Bill Ackman, were shaken out of the market.

Note

NASDAQ reaching end of Capitulation? Or only half way there?

Note

Every investor should ask themselves, are we in store for the usually 20-30% correction?

Or are we in store for a market meltdown, similar to the Mortgage Backed Security collapse of 2007-2009?

Or the Dot Com bubble during in 2001-2002?

I have the most recent corrections in history highlighted, their reasons listed.
> It is clear that the current situation and correction is more serious, than those in recent history. It has more drivers to the downside than the last 3 corrections.

> It is also clear that the global economy isn't collapsing with like in 2008. In that recession, $10.2 Trillion alone was wiped from the American economy alone. That's not including the hit to Global Wealth, resulting in the elimination of many more Trillions.

> It is further clear, current tech equities are not as overvalued as in the Dot Com bubble. I cannot deny that there has been an increasing number of Unicorns and IPOs entering the market. The majority of which have already had their values demolished. One only has to look at the recent SPACs, to see the smack these "Vision over Reality" companies have received from the market.

>>> I believe we are more likely in a 20-30% correction, rather than a meltdown of 50-70%.

>>> A self-proclaimed wise man once said "Long term stonks go up"

Note

Hopeful this is the bottom at 11s

Note

>>> Just a Few Market thoughts.

I believe we are witnessing a successful support test by Bitcoin.

Considering that sentiment is relatively/highly bearish in the Crypto space at the moment. Also considering the bias I have, in wanting the price of BTC to rise.

I believe we are witnessing a temporary lull in equity selling. This could allow for this bounce by Bitcoin to lead to a larger move to the upside. The risk has lowered from a high likelihood of a move to the downside. The crypto market is still medium risk in my opinion.

RSI is also looking very positive on Daily and Week time windows.

Note

RSI Signalling Riot Blockchain Oversold. Earnings Incoming!

Note

Riot bounced strong today

Note

The last 2 weeks, Riot Blockchain's cratering price action does leave a lot to be desired. In times of great mis-pricing the decision must be made to either cut your loses or to sit back and await for an accurate market price.
It can be a relatively difficult thing to do especially when down 30% or more on a position.

With a time horizon of months or a year in mind, a dip of 30% is only a speed bump, when a gain of greater than 100% is on the horizon. It should not shake an experienced investor out of a good opportunity. With this in mind there is nothing wrong with cutting losses. Just make sure you have a plan of where you prefer to put your money to work.

Compounding annually is the goal, not compounding weekly. Personally if I achieve 25% or greater compounded annual returns I will be satisfied with my investing. Riot provides an opportunity to provide a percentage return significantly greater than my target range. I will therefore be holding but you must make your own choices.

Actively do make your own decisions, stick by your medium-long term strategies and do not let vast market mis-pricing shake you from companies that your believe are undervalued. Goodluck Chaps

Note

Another Red Day, another test of will..

Note

Hopefully a bottom has formed, for a green month of May.

Note

The Rally Begins.

Note

***Rise in Risk Level Warning***: This is not a reason to rethink your strategy just my opinion. If bitcoin continues to fall towards 30k levels (A possibility I personally don't think most likely but due to recent sell off intensity, more likely that 2 days ago). This would naturally put an even larger weight on the Price of Riot Blockchain. Irrelevant of the unappreciated value, low P/E, growth rate and potential reward/discount at these levels.
I personally have not changed my position. I am not leveraged and have the patience to wait for Riot to rise towards the end of this year in Q4 2022, if it does take so long. These heavy continuous sell off parts in a market cycle can be tough.

Note

>Looks like the May Rally will not be happening. Maybe the nasdaq will fall down to the -30% support levels next. Don't panic sell minus 25-50% positions just to buy them up a few weeks later at 10% higher than current levels.

>>>Buy a Case of beers and enjoy time with your friends. This market is depressing at present, it all will pass in a few weeks/months. Distract yourself, go workout, enjoy a nice dinner and watch your favourite movie with friends. I know ill be focusing on F1 Miami to distract myself from this wild capitulation. HODL

Note

I think we are very oversold. Have a browse of almost any stock, including the Blue Chips. Almost all if not every has touched or broken down through the 200 Day SMA. This is a very attractive Indicator for a reversal. I say this with the realisation that markets are very irrational right now. Even with great equities being down >40%, they could still drop down further with this panic selling.

My personal thoughts is that the best Hedgefunds and institutional buyers are currently buying the dip. Leaving the technical moving average reason aside as a reason for the market to bounce. Even putting aside the Financial ratios, which have reached the most attractive levels in the last 10 years. Especially so for Tech Firms.
Cash has become a large part in many investors portfolios. Considering that most Portfolios are most likely, still down over the last year. Even with smart money selling near the top, the portions of their portfolios still in the market have been drawn down by 40%. Even with only 50% of capital at work, that's likely a 20% drawdown.

They are likely seeing the high value opportunities in many of the tech stocks. Irrelevant if the market draws down another 5-10%, think you have to look at companies such as AMD, GOOGL, PYPL, NVIDIA, APPL(less so) and even the currently investor despised NFLX. They have the cheapest P/E ratios in years. Huge growth prospects over the next decade. They are also inflationary resistant.

Most of this Inflation problem is due to the direct effects of this Russia-Ukraine War. The main cause of inflation is the rise in raw materials. The knock effect of rising rent prices are due to other reasons. Like caused by Western Economies lack of spending in infrastructure, state sponsored apartment building projects and a lack of rent controls(temp solution maybe max 5% raise per year).

Note

Hey everyone, this market is in capitulation mode. I know the markets are bleak at present. If you're in a similar mindset, you're likely struggling to keep the eyes off the charts today. Have a look at the last few corrections. They briefly broke under the 200 Daily SMA. Focusing on the NDX, looks like we have seen peak fear. This is what capitulation feel like. It makes you seriously question your strategies. Makes you consider what if you sold now and buy 10-20% lower. You might successfully do something, to make the best of your situation. You could time it right and make a great decision. I think it's equally likely, we would just miss a rapid bounce. Might be a bit biased but we can only look back at history in these situations. Goodluck Chaps

Note

Its been a rough few weeks Ladies and Gents. Hope you are all holding in there. In times like this, I like to focus on the profits after this bear market has completed. Forecast out your positions valuations for when they return to 1)fair value, where 2)you believe they will valued and finally if we return to above 3) all time highs. Helps to keep the long term in mind, and lighten the pyschological weight of this red price action.

At the risk of being wrong AGAIN, something I admit by entering this trade early (still holding). I believe we are at a bottom. Interesting how BTC came close but did not touch the 200 Week moving average. There is still huge interest in cryptocurrency, it has not and will not go away. Might even be beneficial in the long run, that some of the more risky alt coins and stable coins, boasting great returns of 10-20% annually, have been brought into question.

Bitcoin and Some of the major Cryptocurrency projects (ETH,LTC,ADA,LINK and more just my picks) will be the only currencies in the world to have gained significant value in 10 years. Keep this in mind. In ten years, considering an average inflation rate of 5%.
>>> USD $1.000 today will be worth $0.5987
>>> BTC $30,000 today could be worth $250,000 at the low end.

Some thoughts to keep the chin up. Institutional news/propaganda on the major finance channels, are talking about buying equities at these valuations. They have shaken out all the retail and will now pump up their positions. Might take till the end of the year but they will make >70-100% gains this year, assuming we return to NDX highs. Don't miss out on the return to break even and on to long term profits.

Note

One can hope this market has set in a low. Looks like a rounding bottom.

Note

NB: You haven't locked in loss, until you sell.
Markets fluctuate, you have to decide an assets true value.

FortunaAlgoAnalytics

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.