MACD looking bullish. It is correlated with bitcoin. Bitcoin is expected to hit 50k by the end of the year.
RIOTD trade ideas
$RIOT Crypto Backed Breakout Coming?$RIOT has been grinding higher for a few days now and creating a strong base on this pullback to previous structure. Sellers are still in charge with lower highs and at least double bottoms so the best the buyers can hope for is a short-term bounce to form a range. If the buyers can't maintain strength on a higher low (green path), then the longer term deeper dip would be next (orange path). Either way, it appears like buyers are interested, it's more just a matter of timing for now. With the crypto markets pushing nicely up this weekend, that may be the fuel they need to break through wedge highs and get things going.
Riot a safe play?Many of you know I talk alot about crypto and mention grayscale, yet grayscale isn't traded on Robinhood or Webull. You can however buy it in your roth. Now what stocks are out there that you can invest in today? Well you have RIOT and MARA, yet RIOT is probably the most known and has the largest marketcap out of the two. I personally took an investment today with Bitcoin's downturn and the stock market downturn. Before the pump of 2017 it was sitting at roughly 2.66-3.63. Now Riot hasn't had the recovery like most, so it seems like a smart play.
News
Again this is my first step diving head first and buying without looking at the history and just comparing the past price history with bitcoin. Only news recently is the CEO sold 4% of his holdings, which not sure if you can blam him its only 4% and he might want to invest in other companies. So take it with a grain of salt
They are losing money which reflects on their stock price not making the money, yet it is surprising with bitcoins rise.
TA
My position is at 2.88
-Riot's trading range atm is between 2.76/2.88 just base on vpvr levels hitting a high of the trading range at 3.19. My position has potential of a 11% gain or a 1-5% lost which the reward is greater than the risk.
-Downside support is around 2.60 then 2.39
-Upside potential is 3.38 then beyond.
-MACD is sitting at its lowest point and looks like a reversal next week is on its way.
-RSI is oversold which is 1 to 1 with Bitcoin
Final thoughts
Not much else to say on this and you shouldn't invest in this company base its TA and be watching Bitcoin's movement since its what drives this price, which is very similar to GrayScale. If you don't want to hold digitl assests than this is the stock for you. When bitcoin goes on its bullrun you can suspect between a 2-3k% gain across the board with new ath a % gain of 5000 on your investment with a pt target of 100 dollars. Now I'm not sure on that, but Riot would need a marketcap of about 4.740billion and some change.
RIOT dumps along with cryptoRIOT dumps along with crypto
Looks like we are going back down to the support/ resistance. I will pick up more here. The election should bring everything down until we know who won the election.
3rd bottom around same price, time to slap the bid?RIOT
Riot Blockchain, Inc. engages in the provision of investment services to the blockchain ecosystem as well as manufacturing in-vitro substances. Its portfolio includes Verady, Coinsquare, and Tesspay. The company was founded on July 24, 2000 and is headquartered in Castle Rock, CO.
*Just wanted to publish this incase anyone missed this.
Any thoughts?
RIOT BLOCKCHAINWith crypto bull markets RIOT will have to pump
Recently acquired thousands of new ant miners
getting ready for bull market
RIOT descending - but not for longRIOT descending - but not for long
once BTC pumps this thing will take off.
RIOT looks to be falling again one last time RIOT looks to be falling again one last time before moving back up again.
No real evidence just a gut feeling - is a long walk to the next earnings report but by then it will be too late. Buy the dips as we climb higher - people will put two and two together eventually, crypto mining companies make money when BTC jumps up.
I will put in some buys from $3-$4 in 10 cent increments.
These are my trading notes I have no formal education - I am an artist who likes to draw lines.
RIOT Where will this go next?RIOT follows the crypto cycle fairly closely.
The volume says where it wants to go.
2-3 months til $11 easy. Just a guess
RIOT forming a nice bull patternA friend of mine asked me to take a look at Riot Blockchain Inc. (from their official website: Riot Blockchain Inc. is focused on building, supporting and operating Blockchain technologies).
Anyway, chart is looking good:) Will watch it closely.
Trade with care! - chartingfeed
Riot Blockchain, Inc. On watchlist for channel break Riot Blockchain, Inc. engages in the provision of investment services to the blockchain ecosystem as well as manufacturing in-vitro substances. Its portfolio includes Verady, Coinsquare, and Tesspay. The company was founded on July 24, 2000 and is headquartered in Castle Rock, CO.
RIOT About to break out RIOT About to break out.
MARA and RIOT should follow each other as BTC goes back to 20K
Monday Morning RIOT Break outBitcoin broke 12k this weekend
RIOT should break out higher Monday Morning
Ride the train up til 10am
$RIOT watch for break of $3.95 resistanceIf we can successfully break and find some solid support at the current resistance level mixed with the fact that BTC is currently at the beginning of a bull market we should expect to see more upside.
RIOT will drop before ripping higherRIOT will drop before ripping higher.
if you like crypto mining stock check out MARA they are in it to and has had the same price action.
I want to pick up more at 3.50 before going to $10
Ready up for earings!Wasnt sure about this chart last week but looks more promising now pre earnings. Wouldnt be surprised going $4 by 8/13 ...we see. $3 strike be good position!
Please Like if Agree or leave opinion in comments. Thanks!
