If you like Bitcoin you'll love $RIOT$RIOT has seen some shit throughout the years, I'll spare you the details because they've settled it and now the future is looking bright.
As one of the only, if not only USA publicly traded Bitcoin mining operation out there you would be a fool to not build a position in this company. 2020 they have been ramping up production, and 2021 does not look any different - " Riot has 8,000 S19 Pros scheduled for delivery in equal installments over the first four months of 2021"
With all the news surrounding Microstrat, PayPal, Square, JPM, MassMutual, etc it appears the Bitcoin investment phase in infrastructure is just around the corner backed by some huge funds that want to secure/insure their Bitcoin holdings.
Buy any dips this thing gives us, cause this breakout is going to be HYUGE.
GL :)
RIOTD trade ideas
(Riot analysis EW)(Riot analysis EW) - "PRIMARY" (1 & 2 & 3 ) complete and possibly 4 also aswell// One way we can show 3rd wave is complete is looking at the "MACD & RSI" showing the strongest momentum. The way we can tell if wave (4) correction is complete is if the (SELL TRIGGER) isn't broken and the (BUY TRIGGER) is broken and conservatively the (.618 Algo zone isnt rejected) . If the (SELL TRIGGER) is broken this is more likely a bigger (WXY) correction. But until then we will assume "Bullish" and have our triggers set. I will update this chart as it progresses.
Just scale down the MACD AND RSI if you would like to see the chart more : )
RectangleRectangles are neutral until a trendline is broken with a trend in that direction. A break to the upside would be 40.35 with and uptrend.
Mid Rectangle is 32.34.
No recommendation/You can get a guesstimate of how far this may go after breaking a trendline by taking the width of the channel and projecting it from the trendline.
RIOT--nearly 40% gains possibleBitcoin could hit ATH this week. A good week for bitcoin is a good week for mining companies. Loaded up on a few Friday, starting with Robinhood/Reddit fave RIOT. Eyeballed MARA as well but this one seemed to be not as bought up yet (while MARA is nearing ATH, but still probably a good play).
With RSI still under 50 on the daily, this ticker could be pushing 30s as soon as today.
This shit is just as volatile as crypto (obviously), so remember to bank some gains on the way up if we do indeed start to run up this week.
RIOT - Wyckoff Accumulation Complete - Signs of StrengthRiot has been lagging behind despite the massive pump on bitcoin.
Why? Well, most likely the price was being suppressed so big bags could accumulate more.
See the textbook Wyckoff accumulation pattern in the image.
You can see where the price was pushed down as it started to take off
Now we are at the signs of strength phase
I expect within a week or two to test the top edge of the wedge and most likely breakout to the upside along with new highs from bitcoin.
nice channel nice patterni just saw this. depending of tomorrows candle it is worth giving it a shot. 50% gain in 4 weeks. even it broke the MA 200 it still could be very bullish the next weeks. the fundamentals for this stock are exellent, idk why this shouldnt go back to 35.
Throw a like and leave a comment.
no financial advice, just for the lol