1RIOT trade ideas
RIOT 11/23/2020RIOT seeing a huge rally due to BITCOIN rallying to all time high's as we approach December another a bull phase of BITCOIN we can expect RIOT to rally as well, Last Friday we had a great entry on RIOT @$5.80
RIOT opened today with a strong move up to $6.20 pushing all the way to $7 before seeing momentum and volume slow down.
Scenario A: RIOT see's another move up to $10, with our target $20 as that is All Time High in 2017 during the bitcoin bull phase.
Scenario B: RIOT has a pull back @$6 to fill the gap from the strong move we saw this morning
RIOT $15 target if BITCOIN stay's bullish
Acquire positions when RIOT dip's
$10.30 Sell Was NothingWe saw a pretty heavy sell off around $10.30-$10.35.
Dont stress this too much. Heavy red candles are the minefield we are dodging. The sell volume will be very erratic and irrational with us being above common supports here.
I would look to our previous high, which was a very long time ago however we must look to history to see where this rocket will land.
Will keep everyone updated with how opening goes on Monday. Looking for a slight pull back but hopefully nothing major.
Riot 8 but when? For Riot and Mara, they might have a small retracement as a result of Bitcoin thanksgiving selloff, which might forming a W double-down consolidation this week.
Hopefully for Riot, it would stop at 6.20 or 5.30 if so, otherwise it could be + - 4.70.
Frankly speaking the bull is running out of steams, maybe I am wrong, this week we might see 8 but I doubt further than that. I might sell my small shares at this level and "patiently" waiting for the next opportunity.
Running the top.We are currently on the tail end of a cat 5 hurricane. Houses are being bought off the gains and it looks like this is the turning point. Does Bitcoin do what everyone is saying and run up into the new year or take a dip and recalibrate. Thumbs up if you are still holding this stock. This has been a crazy week.
Dont Panic! Were still going up.Red, Yellow, and Green are resistance points that correspond with how threatening we face of a challenge. Red is our break point. Yellow is our middle support. and Green is our bounce back.
If this stock drops refer to these points as buy points. Bitcoin sees no resistance right now and these stocks won't either when the money settles. Let these corrections show that if this stock is still accumulating for a much higher price point. Im no wizard but we saw the last boom have a dip just before this point. Theoretically if history proves itself we could see exactly the same thing here. Lets keep an eye on that pattern because the next stopping point after the small lul was above the $20 mark.