RIOTD trade ideas
$RIOT warming up to shoot for new highsThe 2-month triangle could be in its final wave (e).
We don´t trade pure wave counts, so we´ll wait for some type of bullish price action (a decent break of the triangle) to get into a trade.
Breaking of 39.52 invalidates this count.
RIOT - cleared 1 descending trendline, 1 more to goRIOT broke out above this ugly trend line all crypto miners and BTC have been in these last few days.
Look for resistance at the next descending trendline.
Once that is broken, RIOT should have clear sky for BLUE upper trend line.
BTC has a large contribution to provide.
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RIOT BounceRIOT has fallen to from the top of the descending triangle range to the bottom where it met support at 37. It is oversold on stochastics and the last time it was at that level on stochastics it bounced at the 37 level. I believe this will be a quick pop back up where it may meet moving average resistance around 45. Riot is still in a consolidation range and has reached the bottom of that range.
Riot BlockchainSomebody call batman? I see a triple bat lol
What do you think?
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Riot bullish caseRiot is trying to break the downtrend and regain the uptrend. If it can hold above $39 and regain the uptrend then this one could be at the bottom here
RIOT getting to point which it needs to choose a directiona lot of people say short but still it holds uptrend and it made already a nice pull back. it could now shift to a nice Bounce
I’m long hereAt the end of the line with this descending triangle, shows to be oversold, so this shows that it will likely breakout again.
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Bullish RSI Divergence on RIOT1) Riot keeps making higher lows while its RSI is making lower lows. This is a so called "hidden continuation divergence".
2) Riot is forming a wedge pattern that will break either up or down.
A) That said, last I checked there was a strong bearish RSI divergence forming on BTC, and since RIOT is a proxy play for ppo who cant trade BTC derivatives, any RSI signal will be drowned out by a general crash in the crypto markets.
Opening: RIOT May 21st 25/30 Short Put Vertical... for a .91 credit.
Notes: With 30-day at 151% and the short put strike some $15 below where the underlying is currently trading camped out at the 12 delta strike, what could go wrong? With earnings in 24, will probably look to take it off before those ... .
My outlook now is neutralI've been following RIOT for a few months now. Initially it was moving hand in hand as BTC did, but it broke away from that and went off on its own. Its really just trading in a range now with some influence of what BTC is doing. One thing that I've noticed on this company compared to others is they put out very little info in the way of news. We only really see how many miners they've purchased and when they are being deployed. Not much other info. Sure I can understand with a company that only has a handful of employees they likely dont care very much about what people buying the stock think over what their day to day duties are. I think that is hurting them. Even MARA is putting news out or getting on video and discussing topics. It gives at least some legitimacy to their operation. Going forward it seems like the best move is to just trade the zones, long below $50 and start thinking about shorting when it gets to $60 or even just close your longs out and wait for the pullback.
Until this gets back above $67, I dont think we have much to work with in the way of upward value for the time being. MARA which was much lower than RIOT did actually catch up in price this week too. So both of these things are really only moving because hype vs actual value. You can of course trade either but it seems like the hype has backed off on this one.
Now if you are trading this for exposure to BTC until we of course get an ETF for it, you are better served by getting GBTC for buying shares or MSTR for shares/options. Keep in mind the options on MSTR are low volume and very wide bid/ask spreads, however extremely juicy premium if you like selling Theta.
RIOTGot bull trapped on the false breakout this week so my calls got clapped so now trying to re-analyze this triangle with some noob EWT. Based on many twitter charts it appears everyone has this similar ABCDE triangle correction setup (hopefully this doesnt jinx it) (www.24elliottwaves.com) and bottom MAYY be in (added more shares today)... Anyways, Wave 5 .618 fib lines up perfectly with the equal length breakout and that's what matters .
L F G RIOT $100!!!!
Feel free to critique
thanks
not just yet wait for confirmation on this one
very scary with COIN and BTC can see $80 if strength comes back to them
RIOT at the bottom of a Huge Triangle Hey guys,
RIOT seems to be on the brink of breaking either up or down. I will play the following scenarios as they unfold.
1. The price will bounce off the bottom and visit the upper line, -> tight stop loss.
2a. The price will break down once we see a strong crossing of the lower dashed line (red)
2b. The price will break to the upside with major volume once we see a strong crossing of the upper dashed line (green) which has acted as heavy support in the past.
No financial advice, just my personal opinion. I take these trades tho ;)
