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RIOT trade ideas

RIOT: Afraid of a pullback? A few points to keep in mind!Hello traders and investors! Let’s talk about RIOT today! This one is flying, but is there any reason to worry about it? Let’s see. First, in the hourly chart we see that it is showing some weakness, but this alone is not going to be enough to make it drop. Yes, it might do a top lower than the previous top, as evidenced by the purple line, but RIOT did this sometimes in the past, and it didn’t work. I would focus more on the black line at $ 58.78 , because it would lose the previous bottom along with the 21 ema, and this would be something new for the stock. So, the black line is a possible Pivot Point , that could trigger a short-term bear trend, and sharper pullback in the daily chart: The black line in the 1h chart is today’s low, and so far, we can assume we have a classic Bearish Harami candlestick pattern here. Since it is not near any resistance level, it is not a reliable reversal sign, but it could work as a pullback. The volume is quite high on RIOT, which is curious, as the volume on BTC has been decreasing in the past few days. If RIOT triggers a pullback by losing the points mentioned above, the next stop would be the 21 ema . I find it hard to tell if it could seek the support at the $ 29.28, as it is too far away right now, so, I would focus on the 21 ema first. This would be a pullback, but we have no reversal signs around . In fact, as far as I know, pullbacks are opportunities to buy at a cheaper price, with an optimized Risk/Reward ratio. But first, RIOT must trigger the pivot in the 1h chart! Let’s follow RIOT closely and remember to follow me to keep in touch with my daily analyses on stocks and indices. Also, support this idea if you liked it! For more analyses, just check the links below. Thank you very much!
NASDAQ:RIOT
by Nathan_The_Finance_Hydra
11
RIOT PullbackLooks like we've established to volume zones. I dont want to go as far as to say they are Support though. The green box is where we found buyers in the hard selloff today on unemployment news. What does unemployment have to do with crypto or a company with 7 employees? Well I'm sure you know the answer to that. It also looks like we've decoupled RIOTs price level from BTC because the crypto price is back up near all time highs and RIOT has sold off and is trailing now. Personally I bought the dip and went net long. I pulled back the long positions to a lower price point and moved one out to next weeks expiry.
NASDAQ:RIOTLong
by Rikity
1
$RIOT blockchain Stock skyrocketed to new highsBitcoin Blasted Above $50,000 Today, Causing Riot blockchain Stock to Soar as Well More and more, Bitcoin is becoming accepted by major companies, suggesting it is well on its way to mainstream adoption. catalysts that are pushing bitcoin price up: - Mastercard (NYSE:MA) announced that it will allow cryptocurrencies on its payments network before the end of 2021. - Bank of New York Mellon (NYSE:BK) will also start supporting its clients' Bitcoin needs, according to The Wall Street Journal. If these truly are the early signs of the so-called phase four of Bitcoin's adoption, then demand could keep growing for Bitcoin throughout 2021. Demand is growing, and that's why the price of Bitcoin has soared in recent months. And many investors believe a good way to play this trend is by buying Bitcoin-mining stock like $RIOT blockchain. . Riot blockchain get essentially paid in Bitcoin for providing computing power to the blockchain network. And investors believe revenue and profits will soar with the rising price of Bitcoin. Moreover, investors are getting excited to see Riot blockchain amping up their computing power (known as their hashrate) because some assume this means the company will be able to mine more tokens. Riot Blockchain announced it's deploying new equipment over the next week that will take its hashrate to over one exa-hash per second (EH/s). That's quite a lot, and it's an increase of 26% from where it is right now. But investors shouldn't assume that means the company will mine 26% more Bitcoin.
NASDAQ:RIOT
by AlenCiken
7
RIOT Volume and price actionThe volume of the first day this thing started to move a week ago vs today, its higher. The selloff this morning while BTC was staying steady spooked me a little bit so I sold off my LEAPS and a few calls that were already in a profit. Going forward, I'm just going to go with more of a neutral strategy, expecting that one day where we get a big selloff. With the current price action and volume though, it might not come. We do have to expect it though and not give back the majority of our gains. This is my strategy until something changes: Put and Call side Back ratios: Sell 1 Put at the money, 2 at a distance away where I can either do it for no cost or a small credit. Same thing on the Call side. The risk on this strategy is if the stock doesnt move the $10 a day. Essentially i will end up with one extra call or put in the direction of the movement. Opening of the next trading day, I'll make adjustments, if it keeps going in a direction I can eventually buy back the short calls/puts and have free ones to cover retracement. I'll cover the in the money spreads as needed and re-establish At this point I'm still long on it until it stops going up!
NASDAQ:RIOT
by Rikity
Buy BTCUSD For FreeHey Guys! Sorry it's been a little while since I've posted, but I'm back today with an interesting idea that I think many of you may be interested in. Over the last couple of days, a small Chinese bitcoin mining company called Bit Digital has exploded in value as the market has begun to realize the potential of the company's bitcoin mining operations. In the last few hours, however, J Capital, a short seller, published a report alleging that the company is basically a total scam, has no meaningful operations, and is worth nothing. In addition, they claim that the company's board cannot reach it's ceo for comment, because his whereabouts are not currently known. Publicly wanted for questioning, some have speculated that the Chinese authorities have detained him. This short report, combined with the fall in price of bitcoin over the weekend, sent the stock tumbling down -25% today. Now, while the stock is down a ton, it might be the exact opportunity we need to create a beautiful trade. Ok, so here's the plan: Long Riot, and Short BTBT. Theoretically, BTBT is worth nothing, but the company will still likely retain some of its trading correlation with BTCUSD. Hence, you can't really just short it outright without controlling your risk. At the same time, you might want to be a dip buyer in BTC, but it's tough to know exactly when the bottom will be and you, like me, likely don't want to risk an investment going to zero. Hence, our trade. When BTC goes up, RIOT should go up more than BTBT, because BTBT has the fraud and short seller claims as a massive headwind / overhang, though some will still use it as a BTC proxy. When BTC goes down, BTBT should lose more value than RIOT, because the company is alleged to have no meaningful operations, and the only thing holding the stock price up is the hope for higher BTC prices, again, in its use as a BTC proxy. This spread should essentially create a synthetic long bet on BTCUSD, while removing a ton of the risk involved in buying it at these prices. LMK if you decide to try the trade, and feel free to ask questions in the comments below if you don't understand the idea. Cheers!
NASDAQ:RIOTLong
by PropNotes
13
Riot ( A bigger picture)White lines are daily channel Yellow line is split channel Green line was channel top which it hit today Red lines are targets in case of a pull 1st Target redline is the gap at 52.73, gaps act as support 2nd target is 43 ish which would be around split channel support. I don't expect a trip back to channel bottom unless bitcoin falls back under 40k. RSI overbought MFI overbought Technically it should pullback but if bitcoin keeps going this could just ride the top of the channel and not pull back
NASDAQ:RIOT
by ContraryTrader
How much further up? I pulled in some size, I have no idea where the top is on this. I reduced some size locking in some gains and buying much further out options for the long term. I'm actually considering to sell naked puts at the $35-40 level hoping to get assigned. Would'nt mind at all buying some discount shares at that level. Long term there is some growth here, could a pull back come? One thing that could prevent it is constant news of companies jumping onboard with Bitcoin. If we get major players announcing on a daily basis there is no stopping any of this from going up. Take some profits off the table here and save some bullets for later. If it pulls back for even 1 or 2 days the break would make the move stronger and build some support underneath the current level. I like this stock
NASDAQ:RIOTLong
by Rikity
2
Short MARA. Way overcookedWhen you compare MARA and FTFT to bitcoin, FTFT has stayed in-line with bitcoin while MARA has had a meteoric rise. I believe it has gotten out way past its skis. For MARA, a company tied heavily to Bitcoin has outperformed it by an astronomical amount. This is not sustainable. Expect a pullback to at least the $28 range, which was previous resistance. The 50-day moving average is uncomfortably ahead of the 200-day moving average indicating the trade could be overheating.
NASDAQ:RIOTShort
by EBITDAtiger
2
First Green Day$riot had a nice set-up pre-market with another strong rising wedge pattern that has been a notable chart pattern for the largest movers this week. Key elements: 52-week breakout gapping to new all-time highs, pre-market breakout gap-up at open, first green-day, and my favorite pattern that I call Post-Pennant Expansion. The chart seems to 'expand' after breaking through a wedge/pennant apex. The price action is bound within the diverging support and resistance lines of the wedge/pennant post apex. Acceleration can be high during these moments and is perfect for weekly gamma plays. 45c 2/12 entered at 169 exited too early at 183 for 8% gain. Trading wasn't as organized as I hoped for, but the contract had a morning high of 280 so I left 57% on the table. 8% is still a win.
NASDAQ:RIOT
by blondbox