RIOT trade ideas
RIOT BREAKOUTHopefully, the price of bitcoin will rise as breaking new ATH, so it would be really supportive for RIOT to confirm that breakout and go to the space!
RIOT IDEAWE WILL SEE WEDGE HERE AND I THINK $RIOT WILL RUN TO 90$ AT THE END OF MAY WITH BTC AT 75K. JUST MY OPINION
RIOT Short Term Buy, Long Term SellRIOT has been slowly loosing range. It will probably go up in the short term. Being long is risky, as the price sits in the middle of a wedge, and can definitely drop lower.
Just like someone else here said about the Bitcoin, trading this is not worthwhile, until it breaks out of either trend line.
EW for RIOTCurrently looks like $RIOT is in wave iv up of WAVE 2 down now, then a short wave v down, before WAVE 3 UP = Lift Off!
Long on RIOT based on the triangle. Like if you agree.Its a simetrical triangle but i'm long on RIOT.
The target is based on the pole. It's the right time for going long on riot (not investment advice).
Like if you agree or comment your thoughts or both.
-M
Critique my RIOT Elliott wave patternHey community, I've been aware of the Elliott wave theory for a while but I rarely rely on my interpretation of them as I'm not confident with my understanding of the practical yet.
I was hoping a few of you Established Elliott Wave users in the community could critique and evaluate my graph.
I think I've applied the theory correctly, if I haven't please point it out so I can learn the correct way.
Cheers.
Wait for breakoutRIOT is encountering RESISTNACE against the YELLOW line.
Watch and wait for Break out before entry and a run up attempt on the BLUE Trend line.
If Red Lower support Trend Line is broken, greater downside could come with Head and Shoulder formation.
RIOT BLOCKCHAIN - LongRiot Blockchain,
a cryptocurrency mining company, has expanded its fleet and mining capacity with a new purchase order for 42,000 S19j Antminers from Bitmain.
The purchase order, valued at $138.5 million, is part of a coordinated growth plan to significantly increase Riot’s Bitcoin (BTC) mining hash rate. As a result of the current and previous orders, Riot said it is scheduled to receive a minimum of 3,500 S19j Antminers per month beginning in November and running through October 2022.
As Cointelegraph previously reported, Riot expects to achieve a hash rate capacity of 3.8 exahash per second by the end of 2021. Once deployed, the new order of 42,000 Antminers will more than double the capacity to 7.7 EH/s.
Once fully operational, Riot’s mining fleet will consist of 81,150 Antminers, of which 95% are the latest generation S19 miners.
Shares of Riot Blockchain were down sharply Wednesday, reflecting the overall downtrend in the cryptocurrency market. The stock is down 7% at the time of publication and has corrected 36% from last month’s all-time high. Astonishingly, Riot’s 52-week low is $0.93. It peaked at $79.50 in mid-March and currently trades just above $50 a share.
RiotDescision time incoming getting squeezed between 53.36 and 53.98 support and resistance. Time to figure out which way it wants to go. Could be a move coming here. 45min rsi got a bounce with bullish divergants. 1hr starting to turn over. Keep an eye out
$43 trendline?I'm of course still bullish as usual but we could be headed to $43 trendline, who knows if that holds too.. However, earnings report should happen today after close
Riot Moving up towards bigger pattern resiatnce. Higher high higher lows. Does it need further correction or can it hold here. Watching all of my support levels 51.25 is an area I’m watching but the pattern I perceive it’s in is holding support as of now. Slowly creating. Bullish divergents but not confirmed
RIOT Rounding UpRIOT has formed a rounding pattern, the top of the rounding formation will meet resistance at the $65 level. It has also posted a higher low and is showing signs of a correction wave pattern, which could take price to $73 range as a secondary target. Best case scenario is to take profits at $65 and look for a re-entry after a pullback off of the 65 resistance, then ride the next wave higher to 73. A break below the rounding pattern would trigger an exit, which currently would be the 52-53 range as a stop.
$RIOT - needs to hold $51.61If RIOT can hold $51.60 ish level, we may revisit $80 in next few weeks.
Patience is a virtue. The trend is your friend.
Super volatile stock.
RIOT: Bullish flag (63%), Bullish pennant (130%)Primary Target (short term):
Bullish flag, confirmed (63%)
PT = 110.90$
Secondary Target (Long term):
Bullish pennant (130%)
PT = 125.40$
Moar dump?Called the top on $IDEX at ~5$ no one believed me
Called the top on $TSLA at ~900$ no one believed me
Not saying this is the top on $RIOT but this doesn't look good to me. Pretty obvious A&E IMO. I wouldn't be surprised to see a bounce and more upside off the neckline either though so I'm not going to short but all the perma bullish charts and NO mention of A&E is quite alarming.
Riot Blockchain forecastThis projection is based on a conglomeration of input data like log scale trend, elliott wave, overall market cap potential of the underlying, a 47 day consolidation period, and very bullish sentiment within BTC, Riot could easily 10x its comparative 2017 pump just as BTC has demonstrated 10x cycles, riot is still a very small market cap and riot has some catching up to do considering other blockchain related stocks have begun their moves
RIOT 'Short' TermJust found these three crows on the 1Hr Chart. I don't imagine this being a continued downtrend but a quick swing trade. RIOT moves very fast, so I will be watching this one closely.
Sharing an idea for the first time - all suggestions/improvements are welcome.
RiotClearer veiw of what I’m seeing as far as support and resiatnce above and below. Look left also to see how it all coincides biggest fear was this all is a huge head and shoulders pattern but we won’t know that until support is broke.
RiotSmall pull back here upon first rejection of 56.30 area. Didn’t expect to get it on the first try. Back testing old resiatnce as new support. Can it flip to support? Time will tell
