RIOT
RIOT Short Term Buy, Long Term SellRIOT has been slowly loosing range. It will probably go up in the short term. Being long is risky, as the price sits in the middle of a wedge, and can definitely drop lower.
Just like someone else here said about the Bitcoin, trading this is not worthwhile, until it breaks out of either trend line.
Ok ARB...hear me out!Look what we have here, an OTC stock that....mines crypto? Must be crazy right? We have seen RIOT and MARA take off, but why does this look...stuck?
Answer: Hidden Gem that is due for that cataclysmic lift off. OTC makes it hard to get in for all the retail traders to gobble up and leverage to all sorts of margin calls. On top of some dilution to pay for operating costs (HODL that BTC).
TA we see it holding the 50 SMA very well and we are seeing a very very low volume area as traders wait for the crypto market catalyst to break all resistance currently being the 20 SMA and the trendline. RSI is flat, neutral, ready for a little action. Getting tight with room down to $2.60 (having cash ready for that potential dip!)
The thing I must mention here is, there are solid underlying fundamentals due to the crypto market. This play is highly dependent on BTC doing well, and guess what, the bull run is still going and the possibility of a supercycle looms (personally super bullish on BTC HINT HINT). What does this have to do with ARBKF? Well this little stock MINES BTC. And lots of it. Highly efficient, renewable energy powered, mining experts. 320 acres acquired in Texas. Superb hash rate. Numbers mined increasing and gigantic profit margins. I didn't come here to shill, but this little stock still has lots of room to run and is a great choice to add some leveraged crypto exposure to a portfolio.
Oh yeah, NASDAQ listing maybe soonish?!?! *Insert evil laughter*
-Pump
*This is the rambling of a mad man in Moes. Not financial advice. I (Pumpkin) hold shares in ARBKF
Bitcoin BTCUSD pushing to new highsStill a 3 wave move at this point. Waiting for that $60k and watching triangle formation. I think we will get it soon with BNB, VET, ETH, MARA,etc making new highs. expect to hold 55k. Riot looks to be building for large move to catch up on some lost ground with MARA. think MARA will still be the winner.
not financial advice
Bullish Continuation > $BTC $RIOTEarnings on the horizon, there's a lack of confidence here..
Don't forget the meteoric rise during Q4 of 2020 (165% Gain Alone).
We can see we are still in an uptrend.
We can see rejection off 20 Day EMA.
We can see neutral RSI, and potentially bullish Stochastic RSI.
Bitcoin is also doing well this week, and will have a strong April, as we are entering a new quarter and the end of quarter rebalancing for funds will ease.
The only risk on the charts is a potential Inverted Adam & Eve formation (double top), although, I'm not certain it's valid given the 22% difference from the initial peak.
SOS UPDATE 3/30/21 I sort of panicked this morning...All of my followers know that I have been bullish on SOS ever since February. It's been a battle against the bears and it's not like they don't have any valid points about this company's transparency, but I just hate having to see this stock go down even after good news.
Today's catalyst was SOS is issuing new warrants to raise capital for their Crypto Mining Operations, thus diluting the stock and investor interest.
Anyway, I just hate having to see the price teeter totter because it gives me less TA information to work with. All I can do is draw a new resistance point at $4.50.
There's not much fundamentals to work with either due to the fact that this company has only re-branded itself just recently, and the Crypto Industry as a whole is still highly speculative. But if you're here looking for reassurance, and you are still holding onto SOS like am (I'm down 50%) this is what I have to say:
Fundamentally this Chinese company hasn't proved itself to be a ten bagger, yet. Personally, I believe this company is totally overvalued due to the limited information available, but I also believe this company is undervalued compared to the competition. Additionally, the number of shares outstanding for SOS stock are low in comparison to say RIOT and MARA which too are diluting their shares with warrants.
Best case scenario: SOS gets all of those 15.5K miners active, online, and operational by the end of the month. Then, hashing at an average-rate fast enough to mine 41 BTC (353 Peta-Hashes/s) and 909 ETH (707 Giga-Hashes/s). At the current price levels today, that would be equivalent to about : $4055200 in mining revenue USD.
- ( SOS's Expectations: service.sosyun.com ) by the end of Q1.
But then let's also say the price of BTC and ETH remain around these price levels for the rest of the year (which I doubt). That' would be 20 Million (more or less) in revenue for the year 2021. Because I'm bullish on crypto as a whole, I am fully confident that SOS will outperform expected earnings. Only time will really tell. I can see SOS hitting $20 by the end of the year, but I can also see it going down. And at that point I will continue to hold and buy more unless there is concrete evidence that SOS Limited. is indeed a fraud and it'll just be an expensive lesson for everyone to remember.
I apologize if this wasn't reassuring enough, but as intelligent investors we have to stick with facts and not stimulation. Of course I wished I had waited just an extra month before I had jumped in and bought a large amount of SOS stock, but I do not regret it.
I would love to hear other people's opinions in the comment section.
SOS UPDATE 3/29/2021We are in a choppy market due to many Macro Global Economic Factors. The Cargo Ship Stuck in the canals causing the global economy Billions. Rising Bond Yields. And the ominous feeling of rising global inflation.
I am still holding LONG. If hyper-inflation becomes very real. My theory is that the any crypto business/fin tech business will survive and expand. Crypto Markets simply because fiat is becoming less valuable, and Bitcoin (Wealth) is becoming a hedge for many investors.
Bearish BTC potential reversal and or continuation XtradesWith lower highs we have a bearish continuation pattern. Daily candles broke the bear trend but we don't have a confirmation candle of the move and we haven't change patterns to a bullish pattern so still playing some shorts mixed with my longs on tickers like RIOT and MARA.
MARA $43 this week. ATH late AprilMARA has been trending upwards beautifully in this upward channel with multiple bounces off the top and bottom as well as the median of the channel.
The top line of the triangle converges perfectly with the median of the channel as well as a key resistance level at $43.30 on April 6th. From there I expect to consolidate a bit within the channel and triangle until we break out of the triangle in mid-late April for ath.
Thus is a conservative estimate. MARA may break out of the triangle this week, and if so, we can see ATH very very soon.
Short-Midterm outlook for upward progressionNews has never been better for BTC!
Between banks and hedge funds adding it to their portfolios, many digital payment services adding it, credit/debit cards planning to transact with it, companies adding it to their asset sheet, Kevin O'Leary & Elon Musk (+ other celebs) tweeting about it, and of course more stimulus money.
I'm guessing we'll see some major growth and all the signs I've looked at seem to agree. We'll see what happens these next few weeks.
Cheers and don't forget to like!
RIOT Critical Update!IOT has been trending in this parabolic wedge for over a month, and a retest of support seems imminent. Not only would it fill the gap created overnight, but it would also create a hard floor, something we very much need. RIOT will break out of this wedge by the end of the month and I am expecting this to result in a retest of the $80 highs set in February.
SOS 3/22/2021Bit of a slow day in the markets today. + BTC down 5%
The trend still follows and we have yet to hear news on the 3rd set of mining rigs.
Oversold today (-10%) so expect there to be a bit of a rebound tomorrow if everything is perfect. I'm still holding long on this stock. We can't expect crazy things to happen within the next month but we sure as heck seeing an upside but look at this as an opportunity for an options swing trade.
Bitfarms projectionBitfarms has 30% higher hashrate than RIOT does. With an uplisting expecting to a major exchange in coming months, the growth of the stock on fundamentals should put it on a higher valuation than blue chip miners. Long term plans for Bitfarms plan to grow from their current 1.3 EH to 8 EH by the end of 2022. Additional growth in BTC should drive the price even further.
1. Currently 30% higher hashrate than RIOT
2. Exchange uplist expected
3. Longterm plans to grow hashrate from 1.3 EH to 8 EH
4. Institutional investment in BTC should drive the price even higher.
A long term price well over $100 would seem reasonable beyond the current fundamental price of $40 shown here.