$RIOT buy opportunity. I would buy RIOT inside green box. This is a bitcoin mining company and has a 10X (or more) upside potential in the next bull run.
1RIOT trade ideas
RIOT - Back To $5? 🤔Well everything went bananas after the rate hike and with NDX up over 4% at close still potentially in a corrective area I am guessing there may be some whipsaw in the pipeline over the next few days.
For that reason I've exited NDX related crypto stocks and also that BTC looks overextended.
On RIOT chart there is a big gap down at $5.7 and my guess is it fills before moving on up.
It may go higher short term but if it did happen have topped today then a 1:1 ABC takes it down to $5.5.
A little overshoot would take it down to 0.618 retracement.
And the coloured band is the long term shakeout reversal zone which I would now consider an accumulation zone.
If it did happen to get to $5.2 at the top of the band I would like to buy more and short more puts there (to take advantage of high options IV).
Short denotes potential trend direction - NOT SHORTING .
Not advice.
Bullish on BitcoinImo bitcoin is in a failed bear flag and in the beginning of a reversal, likely to touch 34,000 by august 26. We are in an accelerated time frame compared to the previous cycles due to many factors regarding the crypto space. Compared to other indices CRYPTO is a small 1.2 trillion cap, with all the attention, success, and innovation imo the cap is like to 30x in then next year due to crypto and block chains being integrated into other indices etc. i believe we are compared to the year 1990 in the computer industry we are at the beginning of a bubble that will last 10 years. investing in crypto now is the fast route to financial freedom. I BELIEVE we have bottomed regarding bitcoin and the market correction will cease after a large amount of bears continue to get liquidated.
MARA - Testing daily 11 EMA
Into supply and getting sold now, and testing daily 11 EMA. Needs to hold and build above 7.9 for creating another pivot. Below selling will accelerate. Zooming out provides better perspective for the long. 3D chart is very bullish. No reason to be bearish here, just watching for now and pattern to emerge.
RIOT BACK TO APRIL LEVELSHigher levels of government spending, lower levels of corporate tax drains, equities and cryptos back to April levels.
Mid September will be different with a scheduled corporate tax payment.
These are the reasons why the market is predictably cyclical.
You might not like MMT, I don't ethically like it, but at least use the knowledge of how the monetary system works to make money.
Goal 11.5$I see the working out of the head and shoulders. The feeling that they have gained a foothold above $ 8. False punctures up to $7 are possible, but there is one way, these are the goals of $9.8 and $11.2-11.5.
RIOT (BTCUSD) impulse completion into ABC correctionI believe we are seeing the BTCUSD bull wave finish and now the ABC correction begins. Embedded trading (slow stochastic above 80) is about to be lost and will likely fall. If it falls centerline then the ABC may terminate only half-back from the swing-high.
If the slow stochastic enters below 30 then I think we could retest the prior lows ~19k BTCUSD and ~$5 on RIOT.
As long as price stays above 200 weekly MA it validates a pivot from the bottom.
Time to start a RiotRiot Blockchain
Short Term
We look to Sell at 8.05 (stop at 8.90)
Previous resistance located at 8.00. The medium term bias remains bearish. The bias is still for lower levels and we look for any gains to be limited. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit targets will be 6.04 and 4.25
Resistance: 8.00 / 14.00 / 23.00
Support: 6.00 / 4.50 / 4.00
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next higher high of Riotplease write me your thoughts in regard to my feb.. and its time till September
the moonshot will be a RIOTabsolutely insane trade here on this boy. if bitty rages i suppose bitty companies will as well. 65K% upside is frankly a lifechanging opportunity. good luck fellas
Riot Possible Path LONG Riot targeting upper trend line of descending channel. I'm long on Riot with 8/5 calls for 6.50 and 8/26 calls for $7 Potential target is $9.50-$10.50 buying pull backs
Descending Channel LongRiot is currently targeting the upper trend line of its descending channel and is targeting $11-$12. I'm long on Riot until those price targets are reached. Waiting for a retest of the $5.50-$6 region to buy $6.50 calls for Riot with 8/19 expiration.
RIOT - Crypto Stocks 🚀🌘RIOT is a stock I unfortunately didn't post in time before breaking out but FWIW (not much) I have bought in the shakeout reversal zone.
Actually I didnt "buy" but I shorted 2023 LEAP puts to take advantage of high IV and potentially buy blow the low if put to me.
But for those that dont use Options it is bullish, it is effectively a buy.
Weekly RSI went oversold which historically has always triggered a bounce
RIOT/BTCUSD appears to be forming a new trend with high lows and highs and also RIOT has moved up fast compared to BTC here so I think there is a chance RIOT will make a new high, but I'll judge as it continues.
I'll be buying more or any pullbacks.
Apologies for not posting sooner, but well I'm doing this for free currently and its been hot and sunny ☀️.
Not advice.
$BTC $RIOT Update - Bullish Pennant - Onwards and Upwards?#Bitcoin #RIOT #RIOTBlockchain
RIOT Blockchain as an equity relies heavily on BTC price movements.
BTC looks like it's edging to move up any day now.
RIOT, technically, looks like it could either break to the upside, or trade sideways pretty soon.
Given my bullish stance on BTC, I have a bullish bias towards RIOT, even though, competing companies have found their prices getting hammered due to poor earnings and FUD.
RIOT however produced positive earnings, so fundamentals are much stronger here, plus it's not a penny stock, it's traded on the NASDAQ and accessible to RobinHood traders.
Cup & Handle Forming on Weekly Log ChartWe are weeks away from a breakout potentially, and it all depends on daddy Bitcoin's movements.. but seeing this pattern forming .. Which is typically very bullish..
Bullish hidden divergence on weekly time frame / $RIOT, #RIOTAs long as bitcoin behaves and continues to make highs, RIOT looks like it'll break out anytime now. Bullish pendant + hidden divergence on Weekly = bullish. If BTC doesn't have a huge correction in coming weeks I could see this jump to 37$ (70% fib level), which would be a major resistance.
Objective reality exists: one, for each of us.Free yourself from old ideas: think of another version of events.
Bitcoin mining- Down 95% from ATH
- At support
- Mac d turning dark red (thats when things move up again)
- RSI at the bottom
Bitcoin at the bottom area.
I am DCA in mining stocks here.
Take care
$RIOT ~ As expected...As shown in previous update, correction continues and expect lower prices as shown. Possible opportunity soon but not yet. Will be interesting soon and will continue to track closely.
$RIOT ~ Correction still in progress...As expected, the bitcoin miners are correcting along with bitcoin itself. Although we are getting close to the 61.8 for a normal wave 2, I would recommend being careful as crypto tends to correct a little deeper and should be no surprise to see the 78.6. Remain patient and it will pay off later down the road.
Bottoms in...+Buy and Delete app until 2025. 15-20x gains. My prediction is Riot will control 7-9% of the BTC mining blockchain. BTC will be 100k+ within 3 years. Not financial advice. Long holder.
Something very strange going on.toxic financing? something is off...
this is the type of relative strength that is so bad its just shocking
Riot Blockchain: Weekly RSI illustrating attractive Risk-Reward?Riot Blockchain has been punished harshly over the last few months.
Its common knowledge that Riot is closely correlated to both Tech Equities and Bitcoin. It is also effected by Crypto mining sentiment and macro factors.
With this in mind I believe that this stock is greatly undervalued. I believed it was undervalued at $11-12 but macro-economic factors have distorted this: Central Bank Raising rates; Ukraine-Russian War related Supply Chain Problems; Inflation caused by Supply chain disruptions: War profiteering from Oil companies keeping supply lower than needed.
Between the ranges of $3.60-$4.80 is the ideal accumulation zone. Many holders have a cost base higher, including myself.
Due to rapid growth in the companies mining capacity, which is accelerating into the start of 2023. The company is significantly undervalued from a fundamentals stand point.
The Daily RSI attractiveness is in a similar setup, to the multiple sub 30 RSI tests in 2018. A time period that was also a Bear Market.
1) Be greedy when others are fearful.
2) If you believe in a Companies business and promising future outlook. Don't let a bear market discount be the reason NOT the DCA. Even as the stock has been trashed recently, the fundamentals have not changed.
3) The fundamentals are the strongest in the mining business. With huge mining capacity coming online over 2022 & 2023.
>>> Eyes on the Medium to Long Term<<<
Just one swing traders opinion, not financial advice.
