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RIOT trade ideas

RIOT: Second ChanceThe miners have had an absolute face ripper rally over the last few months pending an ETF approval, which was finally received. Perhaps not as well as some may have thought. Due to popular request I have created some zones for where I believe RIOT will likely pullback to after a nice impulse move. Now RIOT is a bit different from MARA in the case that the .618 retracement has already been reached at $9, which was over a 50% move from the top. Instead, I have marked our ranges for both these moves in Orange (top and bottom) , as well as the range points of control which are marked in Blue. For those who may not be familiar, a "Range Point of Control" is where the majority of the liquidity sits. Hence it will likely be the strongest support, or resistance. This is why RIOT is currently being pulled back into the liquidity zone of the range point of control just below $11, although I don't particularly believe that area will offer us much support. If it does, there likely wont be much upside hence the risk reward wont make much sense. I do believe we may potentially break below this level as the Value Area Low of the range sits at $8.50. If we break below there, then we will look towards the previous Value Area High and Point of Control which sit between $6.50 and $7.50. I would consider accumulating RIOT from $7 - $9. The lowest I would really expect is $6.50, and if it reaches this zone, please do not panic as I think it is a quick buying opportunity that wont last too long. Good Luck!
NASDAQ:RIOT
by afurs1
11
Lets start a RIOTPreviously known as Riot Blockchain, Riot Platforms is at the forefront of BTC miners and is highly poised to benefit from the imminent cryto rally generally expected to occur between late 2024 through 2025. BTC has been tipped to touch the very lucrative six digits milestone during this coming crypto cycle and all crypto related stocks have been tipped to follow suit. RIOT faces fierce competition from other crypto related stock ( NASDAQ:MSTR NASDAQ:MARA NASDAQ:COIN NASDAQ:CLSK ), along with the newly approved BTC ETFs this time around but despite all that and its recents market struggles, i think we are headed for a possible 6X to 10X return from these current levels within the next 6-12 months. I personally hold both NASDAQ:RIOT and NASDAQ:MARA  in my investment portfolio and will be covering them both on the weekly as there are already many people covering these stocks on the daily. In my expereince, MARA tends to generate the most hype and volatility within the crypto miners and usually leads while RIOT catches up in terms of price and market cap. To me these two acted as "duo" during the previous hype rally and I expect them to behave the same again. RIOTs chart isn't as clean on the weekly, but we are near a very key support area for accumulation, but I am not worried about this stock's future one bit!
NASDAQ:RIOTLong
by LaMASIA_100
9
What does the future hold for Crypto Mining?I have chosen RIOT as the chart, but I am looking at MARA and also BITF. But as a whole, looking at the WGMI (Valkyrie Bitcoin Miners ETF), BTC mining companies as a whole is taking a hit. Crypto itself is taking a huge hit and of course, this affects Crypto Mining. It did seem that Crypto was going to push higher as the expectations for the BTC ETF release was going to be the first part of pushing BTC to the "moon" and with the BTC halving, money would just start stacking for holders. But that didn't happen. There is a decent amount of geo political turmoil going on. Governments selling BTC. SEC doing what it can to get Crypto labeled as securities in order to bring the coins to its realm of oversight. The Yen carry trade unwinding. The potential of a recession. But there is the other side, where there is good news going on for BTC. The possibility of BTC becoming a reserve asset. The upcoming elections, with a a lot of fingers pointing at former President Donald Trump being very pro Crypto. But even if Kamala Harris (pointed in ALTCOIN daily), says that she is in support of crypto, then that will be a good push for Crypto to move higher. There is also the FED reducing rates towards the end of September; with the recent NFP coming out lower than expected and pushing the chances for a reduction in rates for 50 basis points to 50%. So if the self fulling prophecy for BTC hitting $100k - $150k do come true, then Crypto Miners are going to be cooking. Projects are already underway and the Crypto Market has been very resilent. There are those that thought Crypto was going to collapse during the silk road incident. Then after the cash in 2017 when BTC hit $20k. Then the Terra Luna incident. FTX collapse. Mt. Gox incident. And many others. Yet Crypto is still here. The main issue I think is where all the money is pilling into, and during 2017, crypto was starting to hit the mainstream and a lot of coverage was on it. Institutions finally starting trading BTC and others, as well a lot of retail traders and investors were pilling in. In 2021, people were staying home, receiving check after check of stimulus, wondering were to put it. Then when things started opening up, businesses were offering sign up bonuses. Afterwards, during both these events, once Crypto hit a certain lvl, a ton of people cashed out and instantly became very rich. This money flowed into other products, such as wants and/or other ventures/markets. Now money is flowing into different meme coins, AI, FAANG-M stocks, among other things. If BTC is able to push higher and hit the around $120k, then MARA, holding around 13,677 BTC will be worth around $1.65 billion, RIOT with a holding of around 7,250, will be around $870 million, and BITF, with holdings of around $1,016, would be around $121 million (which RIOT is attempting a takeover of BITF, offering a buyout of BITF, which BITF did not accept. If this does happen, RIOT would become a very strong competitor to MARA, pushing its exahash production from 12.6 to 19.6. MARA has an exahash of 29.9). For the price targets, if things go accordingly, MARA will likely be able to break out of the $20 resistance, avoiding the completion of the inverse cup and handle pattern. If this pattern forms, price will likely keep pushing lower, potentially to around the $8 lvl (at least breaking the $10). For RIOT and BITF, they have the same pattern as MARA, and WGMI price is in a monthly rising channel, so there is a strong possibility that price will drop, but if things go accordingly, then prices on these companies will also avoid the acceptance of the inverse cup and handle pattern. The psychological lvls for these two companies are $10 and $2, which could be hit depending on how things go these next few months. I am in a position on RIOT and a few on BITF, my positions are at a small loss, but I am selling covered calls and cash secured puts to offset the loss, which, when factored in, puts me at a net positive. Additionally, I am participating in the stock lending program, which is further offsetting my losses. I am on the side that price will push higher and I am willing to see it through. Protect your inventory (your capital), and have some great trading out there.
NASDAQ:RIOTLong
by DollarSaenz
14
RIOT: One last step down before rocket to the moon or crash?At this moment RIOT looks to be completing 5th wave of wave C. The price might come down to the volume node from last year's consolidation. During this long BTC consolidation, RIOT and other miners have suffered a brutal downtrend. The long downward consolidation has tested the fundamental strength of the company. RIOT is probably the only one that has very little debt, good amount of cash in hand and except Q2 earning, a good history of constant earnings growth. At the moment I don't believe there is any plan for additional share dilution. So, many things are pointing towards a trend shift. I am in no rush to buy in at the moment. After a huge consolidation like this, it is likely the uptrend will start out slow; maybe in some kind of a leading diagonal. I have no intention to get caught on that. When I see a solid 5 waves up and three waves down, I will start dipping my toes. It might still take some time to get going. If price crashes below $5, then it's game over!
NASDAQ:RIOT
by mukit1
10
Riot vs. M2 Supply: An Explosive Prelude?NASDAQ:RIOT The money supply M2 has always been the primary market driver for RIOT, just as it has been for BTC. Every dip in the total M2 supply has corresponded with a bottom for NASDAQ:RIOT as well. Will it be the same in the coming months? M2 is at an all-time high, but RIOT seems (like the rest of the crypto sector) to be decoupled in these initial phases. I expect the correlation to regain strength as M2 continues its ascent.
NASDAQ:RIOTLong
by Snowcomingsoon
23
RIOT Platforms - Corsicana 2024! 🍿🤗🕺Been buying shares of RIOT, and will continue to add shares anytime this gets in the 9s. After a couple bad years of production, RIOT's new Corsicana facility is energizing and the new miners will boost hashrate and increase efficiency. Oh, and lets not forget the 8500 Bitcoin on the balance sheet and positive earnings. RIOT has been undervalued for too long! As for the technicals, everything looks golden imo. Macro trend from 2020 retested. 618 held, .50 held. Not seeing anyway bears get this back to the 7s. LFG!
NASDAQ:RIOTLong
by AvenueWork
29
RIOT: Summer doldrum continuesThe correction on BTC, crypto and overall markets continue as summer heat is intensifying on the northern hemisphere. While BTC is staying within the top end of the range, miners are not getting the love. In fact, if BTC makes a higher high within the next 60 days and begins a bigger correction cycle (Minor wave 2), miners might get crushed. Right now, I have 2 counts going on RIOT. the sideways correction on a pretty fat channel has been going on for a long time now. Until $8.81 breaks, I am still keeping the red count to look for a higher high to emulate BTC. But, if BTC keeps going down for a larger wave 4 correction, then the green count will ensue for RIOT. Right now, I am looking for an entry point. It will need to be either on the break of the channel or on a dump that reaches the bottom of the channel. This correction can go on for a long time. It can extend the B wave for a false break of the channel or get resistance on the top of the channel before a bigger fall. It will be quite difficult to time the market, so will have to bite the bullet and go for it when the conditions feel right and have tight money management. It will not work out on one shot more likely and will need some finesse to get it right. Once it's on track, RIOT has the potential to change lives!!! Gamestop who???
NASDAQ:RIOT
by mukit1
6
RIOT - Time To Get Long Against KerrisdaleRIOT Ok so if Bitcoin is turning bullish or even having a big bounce; then I think RIOT may break out soon. I've been somewhat bearish on some of these miners for lack of performance, but RIOT was entirely unaffected by the Bitcoin dump and that is a sign of strength. I think this contraction pattern may be building cause and perhaps a wild next wave up is coming. Not without plenty of risk but this show of strength does considerably reduce risk. And this could be a great positional buy right here. RSI holding well just below the midpoint too - looking stable. Kerrisdale Capital are short RIOT (hedged against Bitcoin) but if Bitcoin pushes on up that may prove to be quite a costly mistake. Not advice
NASDAQ:RIOTLong
by dRends35
12
Riot Platforms, Inc. to $1000 / 100xOn the above 8-day chart price action has corrected 95% from $80 in early 2021. A number of reasons now exist to be consider a long position. They include: 1) Price action and RSI resistance breakouts. 2) Price action confirms trend reversal. Higher highs higher lows. 3) Price action confirms support on past resistance. (Green bar). 4) The inverse head & shoulders, you see it? 5) No share splits. True. 6) The bull flag pattern is used to forecast the projection as it was done twice before. Target area is $1000 per share. Ww Type: trade Risk: <=6% Timeframe for long: Quarter 1 2024 Stop loss: Will say elsewhere
NASDAQ:RIOTLong
by without_worries
57
Riot: Tug of warThe bulls and bears are currently engaged in a tug-of-war on RIOT's chart. From a technical perspective, the magenta wave (ii) could already be over. However, we are not yet convinced of this and give the price room to move closer to the support at $7.80. Only when the low of the move is established just above this level should the price turn around and rise significantly with the magenta wave (iii). Following this move, a small interim correction is likely to set in again, but this should be followed by a further rise above the resistance at $20.64, which completes turquoise wave 1. If, on the other hand, the price were to slide imminently below the aforementioned support at $7.80 (36% likely), we will have to see it in the magenta-colored wave alt. (2). In this alternative scenario, it should fall back into the same-colored Target Zone between $6.99 and $5.24.
NASDAQ:RIOTLong
by MarketIntel
Riot weekly chartThis is a weekly view of the Riot chart I have been using. You can see the greater wedge is still in effect and I added a teal support line on the macro uptrend. The other shade of teal line up top is long term resistance on a multi-month scale. I still expect this wedge to resolve upward towards 12.4$. I do expect BTC to have a very green Monday tomorrow. Monday is historically the most likely day of the week to be green at almost 70%. I do not expect a major reversal to the downside since May is over and May is historically one of the worst months for markets and BTC. -12.4$ soon, I plan on continuing to sell cash secured puts on this ride -I am more fundamentally interested in Mara and CLSK
NASDAQ:RIOTLong
by Apollo_21mil