RIOT - Dec 24 BTCUSD100K Part1BTC100K Plan
- Part 1: Once BTCUSD hits 100K, the plan focuses on purchasing crypto miners CLSK and RIOT. These two stocks showed a significant price gap between their current levels and the previous highs during BTCUSD’s last attempt at 100K.
- Part 2: After the crypto miners peak and start to capitulate, the strategy transitions to shorting Bitcoin treasury companies with weak fundamentals, capitalizing on their predictable pullback.
BTCUSD finally broke past 100K this morning.
- I started placing overnight orders for CLSK and RIOT in anticipation of a market opening spike as liquidity flows in. I used ADR% from the entry price to calculate the risk for CLSK and RIOT.
- I have pegged additional +1R risk for unknown variables