RIOT Buy the Bitcoin Pullback? LONG
Updated
IOT on the 30 minute chart has pulled back 35% from its end-of-the-year high when Bitcoin made
a bullish move. Bitcoin has settled down and RIOT has followed that trend down. the MACD
lines are above zero while the RSI lines have settled in deep oversold territory. I see this as
a good entry for a long position with at least 50% upside and much money if taking
call options. As to the latter, I would look for a Juen expiration at a strike just below the
POC line of the volume profile which is confluent with the mean long-term VWAP. My goal is
a 500% return. The OTM call options are cheap enough to take several and then take
partial profits each time Bitcoin reaches a pivot high over the interval and maybe pick up
another when a it finds a pivot low.
a bullish move. Bitcoin has settled down and RIOT has followed that trend down. the MACD
lines are above zero while the RSI lines have settled in deep oversold territory. I see this as
a good entry for a long position with at least 50% upside and much money if taking
call options. As to the latter, I would look for a Juen expiration at a strike just below the
POC line of the volume profile which is confluent with the mean long-term VWAP. My goal is
a 500% return. The OTM call options are cheap enough to take several and then take
partial profits each time Bitcoin reaches a pivot high over the interval and maybe pick up
another when a it finds a pivot low.
Trade active
Price hit a pivot low at mid-session on Friday for another buy of a call contract.Trade active
So far sideways this week as this stock is waiting for a dominate move out of Bitcoin.Note
The big engulfing green candle to close the last session suggests to me it is timeto buy the dip.
Trade active
The 100 scale can be confusing to the unfamiliar here is the chart showing actual price 
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