I Predict A RIOTRiot Platforms NASDAQ:RIOT
- Above 200 day SMA & sloping upwards
- Ascending parallel price channel .
- Break of OBV resistance levels have been positive
- We have just broken above the Feb 2021 OBV high
New entries into this trade would be better waiting for a re-test of the bottom of the channel with a stop placed beneath it.
As we are breaking out of the OBV high, you could enter a trade here but with a tight stop loss at $18.30. Probably not worth it IMO. Better to wait or look at the other smaller miners.
I previously covered CIPHER Mining NASDAQ:CIFR and Marathon Digital Holdings NASDAQ:MARA both of which at similar junctures, however $CIPHER has had major developments of recent and could rise up to it next resistance at $9.60 fairly quickly over a few months (an 80% + move).
You'll find these charts in my trading view link in my bio. I also cover some fundamentals on Trading view also. They are also in my feed hereunder.
Play it safe
PUKA
RIOT
RIOT: Approaching a significant support area.RIOT is correcting with the rest of the markets. As crypto market is doing damage control, it is interesting to see how RIO and other mining companies will hold up. Q2 earnings were good and RIOT is many progress on many of their problem areas, but the price will follow the broader markets. Price is however approaching a very strong support area along with .618 retrace of the run since the December bottom. At least a decent bounce can be expected there. if that doesn't hold then the next support area also coincides with the .5 fib retracement. Longer terms it is also creating some sort of a cup and handle pattern, so in either case, I will be watching BTC price action closely to make my next entry. Wave 3 target is high up in the sky, so there is no big rush. Last entry returned about 4x. Next one could be over 10x if things play out the they should...
Is this a good time to buy RIOT ? LONGRIOT has had a downfall in the past month on the 1H chart. The crypto
market had a resurgence and is now in the dog days of crypto summer.
The MACD shows some bullish divergence.
The volume profile shows most of the buying was in the 16-17 range. RIOT
is far below that with relative volume voids in any movement back to that level.
I see this as a long trade setup with 30-40% upside on the stock and much more
in a one or two month call contract. If you would like to know my parameters on
a long stock trade or call options please leave a comment. ( please also see
my BTBT post, like and subscribe).
BTBT reversal pattern from deep oversold territory LONGBTBT on the 15-minute chart hit the dynamic resistance of the upper +1 VWAP line about
August 1st and fell in a VWAP breakdown through the mean VWAP while also heavily beating
earnings estimates into the underlying dynamic support of the lower -1 VWAP line earlier
today. I see this as an early reversal for a long trade setup with the first target the mean VWAP
at 17% upside and the second target the pivot highs of August 1st at 35% upside while setting
a stop loss @ 2.52. I have profitably traded BTBT in the recent past. I see the opportunity
to do so again. If you would like to know my call options contracts on this, please leave
a comment. These are very suitable for those with small accounts focused on realtively high
potential profits using a very small portion of the account in tight risk management ( Please like an follow)
Riot Platforms has shown an accelerated decline patternRiot Platforms has shown an accelerated decline pattern
This figure shows the weekly candle chart of Riot Platforms' stocks in the past three years. The top to bottom golden section at the beginning of 2021 is superimposed in the figure. As shown in the figure, the stock of Riot Platforms has shown an accelerated decline pattern in the past three weeks, and is about to challenge the bullish starting point in June 2023! From the double bottom pattern at the end of June 2022 and the beginning of 2023 to the overall pattern of the three small bands of upward trend, there are still new highs in the future, but the space above is limited!
Bitcoin Miner Moon Race - BMMR - CORZQ Leads the way!
The great power of the Bitcoin ecosystem, where is the hash rate coming from? Miners.
And most of these miners have bases in Americas only.
Most of the Eurasia / South America / Central America (El Salvador Volcano) are not publicly traded yet or direct government related but I suspect this trend is occurring globally.
Forget the Moon race, its the Hash Race.
All of this too when we are in early stages of a bull market. Don't hear a peep of Bitcoin miners or the ecosystem on Bloomberg either? BlackRock radio silence. . . but the waves are public.
RIOT | InformativeNASDAQ:RIOT
If the price of RIOT breaks above the bullish line of 20.60, it may indicate a bullish signal, suggesting potential upward price movement. In this scenario, the target prices could be set at 22.45, 25.70, and 28.40.
Conversely, if the price of RIOT breaks below the bearish line of 19.15, it may suggest a bearish signal, implying potential downward price movement. In this case, the target prices could be set at 17.59, 16.99, 15.75, and 11.86.
*I'm slightly bearish based on the daily candlestick.
RIOT - Rising Trend Channel [MID -TERM]🔹POSITIVE signals inverse head and shoulders formation with resistance breakout at 14.72 and potential next resistance at 24.50.
🔹RSI curve shows rising trend to supporting POSTIIVE trend.
🔹RSI above 70 indicates strong short-term POSITIVE momentum.
🔹Technically POSITIVE for the medium long term.
Chart Pattern:
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
BTBT- 500% YTD Pullback for Long EntryBTBT, a stock with cryptocurrency mining activities, has been on a long sustained trend up
this year of 500% reflecting the crypotcurrency recovery and resurgence. In the past week,
it has pulled back and is now setup for an entry. This stock is similar to RIOT and MARA but
with a lower price and market cap. It had been trending along the second deviation line above
the long-term VWAP anchored at the beginning of the year. The pullback to the first deviation
the line above VWAP allows for an opportunistic long entry. The ascending amplitudes of the K
/D line excursions on the MACD indicator are confirmatory for the bullish momentum. I will take
a long trade here expecting a 50-100% return over the slow trading of the remainder of the
summer. I believe this will further diversity the portfolio by exposure to the crypto sector.
COIN rises with cryptocurrency resurgence. Can it continue?COIN popped today with vigor as traders seem to recognize the resurgence of crypto.
On the chart, the pop has adequate volatility and high relative volume. The RSI indicator
shows RSI crossed over 50 the prior day and is now nearly at 100. The question arises, can
COIN continue or will it consolidate or reverse? Please comment with your opinion.
Pigeon is long CleanSpark $CLSKCleanspark is on pace to reach 10eh/s in the next 30-40 days. That is late july early august. They have the miners on site and racking. They also have the miners already purchased and being delivered to reach or possibly exceed 16eh/s by the end of the year. This is a miner that has been lagging against all others. As book value goes they are severely undervalued and have positioned themselves to become a top 2-3 miner.
Retail investors aren't liking the dilution but it looks like to me they won't need to use all of the ATM as the stock price has increased. Retail and even analysts have low price targets because there is uncertainty they can pull off the targets they've set out. They have diluted 57% over the last 2 quarter to get 2.5x in hashrate, from 6.6eh/s to 16eh/s. I am fine with this as as they are growing before the halving as miners need to be aggressive and also efficient as possible. Pigeon sees this as an opportunity to buy value and have a calculated asymmetrical bet on the books.
There is no such thing as a 'quad top', this is making LH's into resistance. Expecting pace of move to be speed up as that resistance is snaped. Would like to see that zone labeled to hold tho.
Pigeon is long sparky.
second bull flag breakout on riot in tandem with rising btc pricRiot is a stock we have traded several times with options contracts. options expiring in May in the 12-15$ region are potentially very lucrative. I personally went with 12$ strike May 26th on the bounce of the red line before flag break.
Example of a bull flag on Riot that played outI mostly trade bull flags, especially if they are following a previous cup and handle breakout. Here is an example of a bull-flag we traded that played out to a massive upside, we used 30 day expiration calls on a strike of 10$ for this particular setup.
BTBT a crypto equity play in a Bull FlagAs seen on the 4H chart, BTBT is triggering a breakout from a High Tight Flag Pattern
( see the link below)
supported by the MACD crossing the zero line from below and the ADX indicator showing
the beginning of a bull trend abuve the green line at ADX 20.
Earnings are soon upcoming on March 29th and the prior earnings were decent
in the middle of " Crypto Winter" which is now rapidly thawing into the spring.
RIOT and MARA are breaking out BTBT is about to follow those leaders. A trader would
be "chasing" after the latter but taking a BTBT trade would be getting to the party
just on time. The call options table shows the 4/21 $1.00 strike at $40 premium
which rose 50% on Friday. I see this as an earnings play off the flag pattern
with great upside potential in the context of the resurgence of the cryptomarket
while banks with fiat currency have significant challenges ( or collapses depending
on what version of chaos you see,)
WULF Long on TeraWulf First one but after this yall be listenin'
close up
Chart says we will be at $3.62 mid Q2 23'
Then $5 something into Q3
after summer she rip to $11.5
Then she dumps to $7 on announcement of merger with Hut8 (USBDC failed vote), retaining the Terawulf brand
$7 to $26 After massive stock buyback program followed by announcment of the industries first BTC dividend.
then some pull backs cause its healthy or something, Followed by a head spinning run to $55 By 25' (Y/E) #55by25
Ideas simple, Buy 300,000 shares @ $0.783 for a cost of $234,900.
Time 1 Y +3Q's
Value of holdings at redemption, $16.5M
ROI $16,265,100 or like 70xish
*This accounting exludes revenue from BTC dividends
*This is also a absurd prediction with no basis in fact or reality.
*I am not even good at this, just playing around
*SATIRE, NOT INVESTING ADVICE OR ANY OTHER TYPE OF ADVICE
Long RIOT #tradingtheapocalypseFundamentals: Riot Platforms, Inc is a Bitcoin mining company that survived the recent downturn in Bitcoin price, unlike some of its competitors. That's as much as I need to know. This trade is a leveraged bet on Bitcoin. Bitcoin recently completed a weekly Wyckoff accumulation pattern, which was confirmed by the break and hold above 26k.
Technicals: Crypto equities seem to respect nothing in particular except the Bitcoin price, and the general stock market conditions. However, moving averages help. RIOT has closed above its 200-day Exponential Moving Average, and tested it as support, along with previous resistance, gapping up afterwards, showing demand.
The trade is a long from here, with a stop below the recent low around $5. Ultimate target is the most recent peak the last time price was above the 200 EMA, but really the trade should be managed according to the state of the crypto market.