RIOTD trade ideas
$RIOT Following #BITCOINanyone that follows mining stocks know, when #BTC runs, they run.
Daily id expect return to $10 (one week time frame)
Weekly (September) expecting $15-20
#RIOT #MARA
Riot vs. M2 Supply: An Explosive Prelude?NASDAQ:RIOT
The money supply M2 has always been the primary market driver for RIOT, just as it has been for BTC. Every dip in the total M2 supply has corresponded with a bottom for NASDAQ:RIOT as well. Will it be the same in the coming months? M2 is at an all-time high, but RIOT seems (like the rest of the crypto sector) to be decoupled in these initial phases. I expect the correlation to regain strength as M2 continues its ascent.
RIOT MSTR ratio at all time low. Catch up play intact. RIOT 40$RIOT / MSTR at all time lows.
Catchup play in tact.
Monthly bollinger band upside should bring us to $40 (MSTR $100) and max $80 (MSTR $200) RIOT levels.
Happy trading.
Timeframe Q1/25 to take profits
RIOT Platforms - Corsicana 2024! 🍿🤗🕺Been buying shares of RIOT, and will continue to add shares anytime this gets in the 9s. After a couple bad years of production, RIOT's new Corsicana facility is energizing and the new miners will boost hashrate and increase efficiency. Oh, and lets not forget the 8500 Bitcoin on the balance sheet and positive earnings. RIOT has been undervalued for too long!
As for the technicals, everything looks golden imo. Macro trend from 2020 retested. 618 held, .50 held. Not seeing anyway bears get this back to the 7s.
LFG!
RIOT: Summer doldrum continuesThe correction on BTC, crypto and overall markets continue as summer heat is intensifying on the northern hemisphere. While BTC is staying within the top end of the range, miners are not getting the love. In fact, if BTC makes a higher high within the next 60 days and begins a bigger correction cycle (Minor wave 2), miners might get crushed. Right now, I have 2 counts going on RIOT. the sideways correction on a pretty fat channel has been going on for a long time now. Until $8.81 breaks, I am still keeping the red count to look for a higher high to emulate BTC. But, if BTC keeps going down for a larger wave 4 correction, then the green count will ensue for RIOT. Right now, I am looking for an entry point. It will need to be either on the break of the channel or on a dump that reaches the bottom of the channel. This correction can go on for a long time. It can extend the B wave for a false break of the channel or get resistance on the top of the channel before a bigger fall. It will be quite difficult to time the market, so will have to bite the bullet and go for it when the conditions feel right and have tight money management. It will not work out on one shot more likely and will need some finesse to get it right. Once it's on track, RIOT has the potential to change lives!!! Gamestop who???
$riot yieahhnice bounce on the rsi from NASDAQ:RIOT , is this the start? of something old?
is the mining dinosaur back?
since 2022 it dropped in 5 waves, could this be the wave B hitting 50% retracement to $41? nice ~4x from here.
oooor, is this the beginning of a big bull push to previous highs or even moon?
gotta start planning the scaling out.
yieahhh
WHO WANTS TO RIOT ON THE MOON? RIOT Chart looking pretty good when you look at the greater picture.
Don't think we quite make it to Mars on RIOT.
Dogecoin, probably.
Yes the smaller moves are not really covered on this chart.
But also, this is a key zone for RIOT on the weekly chart.
IT goes back quite far.
Put/Call info below.
rejection trends in red.
support trends in green.
price zones marked.
Leads out to next April.
Good luck!!
RIOT - Time To Get Long Against KerrisdaleRIOT
Ok so if Bitcoin is turning bullish or even having a big bounce; then I think RIOT may break out soon.
I've been somewhat bearish on some of these miners for lack of performance, but RIOT was entirely unaffected by the Bitcoin dump and that is a sign of strength.
I think this contraction pattern may be building cause and perhaps a wild next wave up is coming.
Not without plenty of risk but this show of strength does considerably reduce risk.
And this could be a great positional buy right here.
RSI holding well just below the midpoint too - looking stable.
Kerrisdale Capital are short RIOT (hedged against Bitcoin) but if Bitcoin pushes on up that may prove to be quite a costly mistake.
Not advice
Rio in 4H chart Hello
It has been a while that we are waiting for it rally and I expect it happens this week. I think, if BTC starts rising tomorrow in NY session then it might start too. This consolidation area seems to be an ABC patterns that was trying to finish last wave 5 of (C) and if my forecast came true, it would be open with a Gap or make a shadow to hunt that stops and then rise.
All of these are idea and wait to get confirmations.
Thanks
Riot Platforms, Inc. to $1000 / 100xOn the above 8-day chart price action has corrected 95% from $80 in early 2021. A number of reasons now exist to be consider a long position. They include:
1) Price action and RSI resistance breakouts.
2) Price action confirms trend reversal. Higher highs higher lows.
3) Price action confirms support on past resistance. (Green bar).
4) The inverse head & shoulders, you see it?
5) No share splits. True.
6) The bull flag pattern is used to forecast the projection as it was done twice before. Target area is $1000 per share.
Ww
Type: trade
Risk: <=6%
Timeframe for long: Quarter 1 2024
Stop loss: Will say elsewhere
Riot: Tug of warThe bulls and bears are currently engaged in a tug-of-war on RIOT's chart. From a technical perspective, the magenta wave (ii) could already be over. However, we are not yet convinced of this and give the price room to move closer to the support at $7.80. Only when the low of the move is established just above this level should the price turn around and rise significantly with the magenta wave (iii). Following this move, a small interim correction is likely to set in again, but this should be followed by a further rise above the resistance at $20.64, which completes turquoise wave 1. If, on the other hand, the price were to slide imminently below the aforementioned support at $7.80 (36% likely), we will have to see it in the magenta-colored wave alt. (2). In this alternative scenario, it should fall back into the same-colored Target Zone between $6.99 and $5.24.
Dito on Crypto RIOT handleHong Kong accepting Crypto opens flood gates of buyers from the second largest economy in the world formerly part of the British empire whos King owns most the land in the world, still.
RIO update in H1 chartHello
We have discussed about this instrument in the last publish and I just want to give you some ideas about its waves counting.
The important point is that it corrective patten has become more reliable and we can expect a rally after this correction.
It might be waiting for BTC movement.
Thanks
RIOT - A potential setup for a swing tradeRemain vigilant for daily reversal candles occurring near the support area. In the event of a daily closing breach of the support levels (red lines), there is a possibility of further downward movement, emphasizing the importance of implementing risk management strategies.
Rio update in daily chartHello
It seems that RIO is waiting for BTC. We have analyzed it step-by-step from its wave 1/A and now we expect to see a profitable rally but every thing depends on our confirmations.
For now, what I see is wave 1 but let it to show you the reality.
As long as this trend is struggling in this channel anything is possible.
Riot weekly chartThis is a weekly view of the Riot chart I have been using. You can see the greater wedge is still in effect and I added a teal support line on the macro uptrend. The other shade of teal line up top is long term resistance on a multi-month scale. I still expect this wedge to resolve upward towards 12.4$. I do expect BTC to have a very green Monday tomorrow. Monday is historically the most likely day of the week to be green at almost 70%. I do not expect a major reversal to the downside since May is over and May is historically one of the worst months for markets and BTC.
-12.4$ soon, I plan on continuing to sell cash secured puts on this ride
-I am more fundamentally interested in Mara and CLSK
RIOT: FAKEY CANDLE PATTERNRIOT: FAKEY CANDLE PATTERN
.
Waiting for breaking out of range, and then RIOT will go up.
RIOTHi, what I see when I look at Riot is the price attempting to find support on top of a “bear fib channel”. I have other views in my past posts, where you can also see my projected bull fib, but right now, I remove everything else, so we can see what’s going on with the bear fib, and why we may see a bullish reversal soon, if price can get “sticky” at this level. Mara will go to zero, because it’s shit.
Price Explosion is imminentI think RIOT is one of the more undervalued mining stocks for many reasons. Their HODL balance is over 9000 now, their new Corsicana facility is coming online as we speak and has already been energized. New miners replacing the outdated less efficient ones.
The largest overhang is the share dilution over the years to scale things up however, this company has very little to no debt and very strong cash & equivalents, are planning to scale to 100 EH/S, with their goal being north of 30 by the end of this year (around 3x more EH/S).
With an increasing BTC HODL balance, and an expectation of 100,000$ BTC in the near future, one could estimate at least a 5-6x boost in the share price here. (3x growth multiplied by BTC price increase + HODL balance increasing in value).
I think end of this month and into next will see consistent upwards price action.
Targeting 100-125$ by 2025.
Riot updateRiot has a nice flush out and I was able to add a small amount to my July 7th calls on the wick I marked with an arrow. I did sell all of the short dated calls on this pump after the washout as I wanted cash to assess the situation. I plan on keeping my Sept. ones until the 12.4$ target. This is a push against the wedge. The move was big because of the short sellers. If we can get some more buyers here we could see a massive squeeze.
Mining Company; @RIOT $RIOTHere’s my observation: the mining company might not be able to generate substantial revenue going forward. This is because once the halving occurs, the rewards for each block are halved. Moreover, if they continue mining with their current equipment, it may no longer be profitable unless they increase the hash rate. However, this will incur additional costs for the company. Furthermore, electricity costs are not decreasing, which would add more expenses to the company’s operations.
On the other hand, if the Federal Reserve (FED) remains hawkish, it could instill fear in the entire asset market. While this might not be the biggest factor, the Bitcoin (BTC) halving could trigger a significant rally if liquidity is withdrawn from bonds or becomes cheaper due to a decrease in discount rates.
