RIOT
RSI Signalling Riot Blockchain Oversold. Earnings Incoming!> Riot Blockchain has been dragged down by the greater tech market sell off. Bitcoin is still holding up. Considering the correlation Riot has to Bitcoin's price, this provides upwards momentum.
> The Nasdaq is falling into daily and weekly Oversold RSI levels. This increases the likely hood of a bounce in equities, suggesting upward momentum in Riot. Earning season is in full swing with many earning releases due in May, including Riot's May 16th release. Fingers crossed that aggressive expansion plans will not damage their earning results too starkly.
> Still awaiting the Crypto Miner FOMO. Likely to repeat when Wall Street and Retail, look for the highest return potential.
>>> Market thoughts:
> Check out "Game of Trades" on YouTube for some interesting market takes. Especially promising charts and correlations to consider in your Market outlook.
> 2 year bond yield looks like it topping, signalling return to SOME risk taking.
Riot Blockchain solidified support for a move to the Upside.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 by both Riot Blockchain and Bitcoin .
> With significant momentum driven by earnings season. Earning season is 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. Especially in a stock you believe will be significantly higher in the long term.
3) Riot's 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 Chaps <<<
Just one Long term focused Investor/Traders Opinion, not financial advice.
The dollar just broke a 37 year old trendline This doesnt look good for Bitcoin. This could be the beginning of BTC to retest 20k level if the dollar keeps spiking. Commodities at all time highs, the USD is needed globally... much sooner then they need Bitcoin. Until commodities are paid in BTC, the Dollar will remain strong with EUROPE / Global uncertainty
$MARA back in for another run 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
This morning my team purchased shares of digital mining bitcoin company Marathon digital $MARA at $25.92 per share. Our take profit is $32.75 with a stop loss at $24.90.
Our Entry: $25.92
Take Profit: $32.75
Stop Loss: $24.90
If you want to see more, please like and follow us @SimplyShowMeTheMoney
$CLSK sold our shares with a 21% gain 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management
Recap: My team purchased shares of digital mining bitcoin company CleanSpark $CLSK at $10.30 per share on March 3, 2022.
We sold our $CLSK shares today at $12.50 for a gain of 21%.
Thank you all for sticking with us through this trade despite us hitting our stop loss on this trade early on. We held through and have been rewarded nicely!
Congrats to those of you who took this trade!
Our entry: $10.30
Target (HIT): $12.50
If you want to see more, please like and follow us @SimplyShowMeTheMoney
Is BTC Going To 70k By EOY? Here's What I think. Good afternoon traders, I hope everybody's week is off to a good start!
So, I was perusing around the markets looking for my next play and I came across BTC's weekly chart and I couldn't ignore this gem. I think that we are sitting in the short term bottom of BTC and that it's very likely that we will see another rally into the end of the year. That being said, I know that the markets are crazy right now due to recent events, inflation, etc. However, from a pure TA standpoint I think that this is an absolute layup when partnered with BTC backed stocks such as $MSTR and my personal favorite $RIOT. We can see that we are beginning to cup in the weekly and hovering around our established support levels (typically indicative of an incoming uptrend and EMA cross).The circles on the RSI highlight a pattern that I've noticed. As you can see the last 3 times RSI entered this level it rallied the following days / weeks. Could be a coincidence but I figured I would explain my thought process.
I've noticed that $RIOT tends to almost always correlate very closely with BTC's movements even on a daily basis and we could grand slam some cheap calls down the road with them if we can see a similar pump to what we saw in Feb. - Mar. 2021.
I will be looking to load up on cheap OTM calls on both of these stocks both within the Jan 20th 2023 options chain. (This is my opinion only, not financial advice. DON'T copy me)
Thank you guys for all the support so far, and let me know if you'd like to see more of my ideas within the crypto space as well.
-Flippa.
$BTC buying the morning dip 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Buy Entry: $43000
Take Profit: Yet to be determined
Stop Loss: $42000
If you want to see more, please like and follow us @SimplyShowMeTheMoney
$RIOT Trade update$RIOT Trade update
RIOT averaged down today. New average 17.61
New sell target 23.95 for 36%
Add targets in the red and I have open orders at all of them.
GL, y’all
——————
I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
Have fun, y’all!!
(\_/)
( •_•)
/ >🚀
RIOT: Trading the RangeRiot Blockchain - Short Term - We look to Buy at 26.27 (stop at 21.28)
Trading within a Bullish Channel formation. We look to trade the current range. Previous support located at 24.00. Previous resistance located at 41.00. The bias is still for higher levels and we look for any dips to be limited. Risk/reward is ample to call a buy trade.
Our profit targets will be 40.95 and 46.00
Resistance: 41.00 / 50.00 / 60.00
Support: 24.00 / 20.00 / 18.00
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RIOT diverges from BTC and should reverseThis is my first idea I'm publishing to TradingView, so I'm eager to hear your thoughts/criticism.
The premise starts by stating that RIOT is highly correlated to BTC/USD, given how the business model is BTC mining that seems fair. As such, with the recent increase in BTC/USC RIOT has gained also, but sometime on Feb 9th it started diverging from BTC/USD and has only increased the divide since then. Why? There hasn't been a single catalyst coming from inside the company and it doesn't hold any BTC and is a money losing operation while trading at 1288 times last quarter's earnings. So my guess is that there's no reason to sustain this diverges and thus we'll go down from here.
I'm not going to say it's going bankrupt, but it should revert back to being tightly correlated with BTC/USD.
My prediction/guess - it reverts back to $33/share level.
Market Update and a look at fee FREE blockchain ETFs/MinersIn this video:
* Should we be concerned about the price action today in the crypto space?
* A quick peek at the Stock Indexes and BTCUSD and ETHUSD
* Fee Free Blockchain ETF's and Miners which you can buy on Robinhood, Ameritrade, and others:
GBTC
MARA
RIOT
NDTAF
HUT
HIVE
IREN
BITF
GREE
ARBK
ARBKF
SDIG
BTCM
CLSK
BTBT
DMGGF
ARKK
BLOK
COIN
BSVUSD
BCHUSD
BTCUSD
DOGEUSD
LTCUSD
ETCUSD
ETHUSD
Best to you all and HAPPY NEW YEAR!
-Stew
ANY bounce from the strong support ??ANY Sphere 3D wants to rival MARA and RIOT in 2022.
Peter Tassiopoulos, CEO of Sphere 3D: "We have successfully pivoted to the cryptocurrency mining industry with the purchase of our first 60,000 miners, capable of producing 6 exahash of capacity. we have secured an agreement with Gryphon Digital Mining to have Core Scientific host and manage about 230 megawatts of bitcoin mining capacity, which covers over 71,000 bitcoin mining machines."
This strong support area seems like a great buying opportunity!
My short term price target is the 6.2usd resistance.
RIOT/BTCUSD Beta Hedge In regards to my last posting, which explains this idea and the logic grounding it , I just wanted to publish this spread chart for RIOT/BTCUSD as I think it's important .
The idea is that a short on bitcoin can be hedged by buying an equivalent dollar amount of RIOT , which acts as a beta hedge here .
Please give the initial publication titled "BTCUSD How to reduce risk while shorting using beta hedging" a read if you have not and are interested in this idea. It is much more detailed and it is linked . This is meant to supplement it only . I have attached the prior posting mentioned to this publication .
RIOT about to EXPLODE!! HUGE Pennant with Upside TP = $102Entry at open $28.09, SL = $23.23, TP= $102. EXTREMELY LOW RISK TRADE and HUGE UPSIDE. Willing to Risk 2% on this trade because of I am wrong I only lose 2% but if I am right this trade has potential to 360% Return. This trade reminds me of BTC trade I took last year around May with nearly identical setup but that was on the weekly chart. This trade is on Daily chart.
HUGE Pennant with already a weak breakout and rising MACD about to cross ZERO line on multiple time frames from 8 hour, 3D, Weekly. BULLISH slope to MACD with breakout of downtrend on MACD as well as smaller Pennant (Bright yellow trendline) appears to be ready to explode higher out of larger Pennant (tan dashed trendline). Price is also at MAJOR SUPPORT.
MARA - Retesting BreakoutBulls have been in control since May 2020.. Some see a H&S, I see a re-test of breakout.. We do have a shooting star on the monthly which is bearish bitcoin has been consolidating for months and expecting a breakout any day.
TP $100+ by mid-Feb. If bitcoin stalls, then RIP MARA. GL