RIOT Blockchain - Bullish?Riot could rip to the upside if we breakout and confirm the triangle as support. RSI looks ok with MACD crossing over. This is not trading advice.
RIOT
RIOT is recklessRIOT reacting to crypto and spiking good pre market for a gap play. I entered options right at open with confirmation from my buy signal and am just playing the breaks through each resistence. Can this retest its highs?! Set your stops and enjoy the day your work is done if you entered, let it run!
If you like this idea or my other ideas please feel free to let me know in the comments. Like/share. Great dip buy opportunity confirmed with todays price action so far. Play it safe!
CCNC-you dont know the next stock to ROCK the crypto worldso this is "Code Chain New Continent"
FUNDAMENTAL:
they are quietly building a crypto empire and staying under the reader - a couple of interesting facts:
1. In early February 2021, the company have an announcement for a new co-CEO -David Feng :
"David Feng holds years of experience as a senior computer network security engineer. As the strategic expert and architect in Blockchain, he has applied for several patents on Blockchain core technology, artificial intelligence, and big data"
this is on the tip of the iceberg to what Mr. Fang has done on the blockchain.
2. 23rd Feb, news for CCNC purchase 10,000 Bitcoin mining machines to start their mining business.
The company is expecting over 30k $ per day from these miners and has already put them to work.
3.On march 2nd Company published a ‘Letter of intent’ (LOI) to XiaoJin LangLang, in the intention of acquiring 61% of their business!!!
if they act on this LOI (any day this week!!) that will be a big jump on the stock.
“Under the terms of the LOI, the total consideration for 61% of Xiaojin Langlang's equity interest is expected to be RMB 36 million (approximately USD 5.6 million), subject to completion of a third-party valuation. Of this amount, 50% shall be paid in cash, and 50% shall be paid in the Company's shares of common stock. Code Chain is required to pay $500,000 within 7 business days from the signing date of the LOI, which will be applied to the final purchase price upon entry in to the material definitive purchase agreement. “
(taken from the SEC official LOI)
CEO is also a doctor in blockchain and innovative technology - full DD in our site contains full details.
Lets talk technicals :
So we got a motive wave from 8th of Feb to 17th of Feb with a high of 11.6$, and a volume measure of 14M.
After that we had a retracing wave to the 6.6$ line -what happened next in my opinion had nothing to do with the stock but with the stock market and Crypto market – the drop of 12% of the NASDAQ in a week took the stock in to new lows from 6$ to 4.2$.
Stock needs to go back to the 50% level at 6.6$ (if the market is done with sharp bearish moves).
If we are considering the Eliot wave theory then the stock is ready for its third stage of the impulse (the strongest one! ) to take us back to 10$+.
• Stochastic oversold (8)
• ADX on the 20 level (no trend)
• Ending volume is expected to arrive acc to market cycle theory
• Gap between 4.80 to 5.20 is filled
***If we see stock crosses 3.9$ downward we can enter a low of 2.8$ (at worst case)
***If we see stock trending up we expect it to go back to the POC (50% line is the same line at this case) 6.6$
Volume analysis :
3m average volume: 895K
1m average volume: 1.3M
This week volume: 3.9M
Once the 500k will be transferred (if LOI is executed the stock is expected to give us an upside of 25% - 30%.
And a year from now accounting a 30k min mining gross profit the stock is expected to be well beyond 15$.
We will be waiting to buy the stock and once the market gives us a definite answer regarding the bearish trend that started this month.
please read full DD for the full picture
please trade safe !
Market Selloff stabs RIOTI've been sitting on the sidelines, thought $40 was a good buy point and got back in some. Went down to $34, looks like that zone bottoms at $33. If it breaks below that level who knows where the bottom is, $27, $21 then $14 worst case scenario. We do have to consider market conditions on this selloff, its a bloodbath out there right now. I'm long RIOT from here, I think its oversold at this level.
Lets see if RIOT holds the $48 it just retested... H&S Invalid if it breaks $40 support. My personal opinion it needs to eventually get back up to $80 to form some type of Cup and Handle.
Not an financial advise...
Likes and comments appreciated. Thanks!
EBON... is this the bottom?$EBON, as blockchain stocks (mara, riot, sos) are seeing decent movement with Bitcoins push this past weekend, Ebon seems to be lagging behind, trending in a nice channel up. at the bottom of the channel here with lots of upside to run. Good point to long here with shares or get leaps (options premiums are cheap now and not jacked up). Watching for reversal as we break this triangle to go for that gap fill at $10.87. If BTC continues to this flat choppy correction ebon will be very choppy as well. If BTC rallies to 55k+ blockchain stocks will rally as well.
Key Levels
Support: $6.53, $5.79 (oversold under this level)
Resistance: $7.18, $8.56, $9.98
RIOT: $167 COMING SOONI THINK THE CHART SPEAKS FOR ITSELF ON THIS ONE......EITHER WAY, GREAT TIME TO LOAD UP ON THIS AND HIVE BLOCKCHAIN ESPECIALLY (HVBTF)
RIOT BlockChain Priced In BitCoin!RIOT is a BitCoin mining company so the price closely follows bitcoin in most cases, but the added valuation and specualtion, in addition to the accessibility to standard markets, makes RIOT a great proxy so long as the reversal we're seeing on this chart continues.
Nice break to the upside. Let's see if we can hold support.
weekly #RIOT looks scary enough to Buy?!Massive bearish engulfing candle. Would wait for some SOLID support before entering with stop loss (maybe $30). remember #RIOT being $2.50 a share? Not an financial advice!
RIOT Cross under 50, 200 sma bullish pattern detected on the 5d5d chart shows a cross under the 200 day sma and a ounce right off the nearest support. the trend line from its initial break out last week shows a nice symmetrical triangle forming and converging right above that same support. given its volatility and relationship to BTC however, its always plausible a breakdown under this support and settling in at the mid 20's range is never out of question. but given the trend here and what seems to be relatively stable floor for BTC, we can expect more likely a breakout ot he upside in my opinion.
This is a risky derivative, use caution and do your own DD, NO finance , No Financials here
Companies Selling Stock Were Outperforming The Nasdaq By 40%ZeroHedge, Wed, 08/26/2020 - 10:05
"2020 has been a stunning year for countless reasons, and one of them as we previously reported is that following the covid pandemic there was an absolute avalanche of equity offerings, culminating with some $113 billion in stock sales in the second quarter as we showed before.
"Yet while the staggering amount of follow-on offerings is not news, the performance of companies selling their stock is nothing short of shocking, because whereas in a normal world the association dilution with new equity sales would in theory result in depressed stock prices, the reality of the past few months has been anything but.
First, a quick update on equity offerings as of late August.
As Bloomberg notes today, a new milestone in secondary offerings shows the power of this year’s unique market in bringing together sellers and buyers. Issuers and their largest holders have now priced 783 secondary offerings on U.S. exchanges this year, with the total surpassing 2019’s full-year total of 780 on Monday.
In terms of cash proceeds, the $169 billion raised in this year’s secondaries is already the most for a full calendar year since 2015. And unlike the surge in IPOs, which has been driven largely by special purposes acquisition companies, Bloomberg notes that these secondary offerings are being conducted in real businesses.
Two main factors deserve the credit for this years-high in deal flow. On the sell side, companies found themselves scrambling to cover cash needs, while a pandemic spoiled expectations for revenue. On the buy side, traders kept coming back for more after recent deals shocking outperformed the broader market.
And here is the punchline: stocks sold in 2020 secondary offerings closed on Tuesday 39% above their offering price on average. That’s outpacing the year’s 28% gain in the Nasdaq Composite Index, a 40% outperformance.
There's more: the performance of July’s 98 secondaries, which closed Tuesday an average of 278% above their offering price, serves as a recent and major source of excitement for more paper in the market. Indeed, if investors are clamoring for public companies to sell their stock and raise cash, which company in its right mind would say no?
As Bloomberg concludes, while the pace of deals is now slowing heading into a traditional vacation period for equity capital markets, bankers are optimistic that the final four months of 2020 continue to serve as fertile grounds for even more secondary offerings."
"Companies raised more money through stock market listings in 2020 than in any year besides 2007", FT
"Companies raised more money through stock market listings in 2020 than in any year besides 2007, as a rebound in equities valuations lured in businesses and blank-cheque acquisition vehicles rushed to list in the US.
Businesses raised almost $300bn through flotations globally in 2020, including a record $159bn in the US, according to data provider Refinitiv. The boom included the public debuts of high-flying tech businesses such as DoorDash and Airbnb, as well as listings for groups that seek to buy others and fast-track them on to public markets."
BTC consumes as much energy as the entire country of Pakistan?According to MarketWatch, bitcoin consumes as much energy as the entire country of Pakistan, and almost as much as the Netherlands..
Hard to believe, but that's what it says.
Is that really sustainable? Or even necessary, for that matter..
Is this the right time to take profits out of RIOT?Let’s review my analysis on RIOT
1st- Nov 5,2020, Long: price : 3.81 (target 46 in 1-2 years)
2nd- Nov 10,2020, long : price 3.34
3rd- Nov 13, 2020, Long: price 4.08
4th- Nov 17, 2020, Long: price 6.08
5th- Jan 31, 2021, Long: price 20.52
After 14900% gain in less than a year RIOT has just touched the upper border of the quadrant channel and early sign of reversal appeared today!
IMO: cash out the primary capital and a big chunk of you profit, keep some free stuff if you think there will be another bullish rally. From the early days I said this will outperform Bitcoin in a bullish rally. Honestly, I couldn’t imagine it would be 12 times better..!
At this moment I believe it couldn’t outperform Bitcoin any more..!
Moshkelgosha
I still believe stock market is the HOTEST market!Professional traders love turbulence in the markets because bigger fluctuations means bigger opportunities to buy/sell.
When newbies panicking, the real wolves come out for hunts. They are disciplined strategist who have action plans for different markets.
What makes a trader exceptional is his mindset..! To be exceptional you should have NEUTRAL MINDSET, you should trade like machines, there should be zero tolerance for your feelings.
An exceptional trader has action plan for every moment of the market, it doesn’t matter it is bullish/Bearish, you should be prepared for every situation, if you don’t want to be washed away by big waves.
To maximize your profits you should first recognize the most emerging market. As you see RIOT and MARA are influenced by Bitcoin price and react more aggressively in bullish rallies they out perform Bitcoin itself by huge, and in correction they provide bigger sell opportunities! In the most recent 23% correction theses stocks corrected 43-47% in less than 4 days. Assume you bought their put options!
Last week I asked my followers to take profits out of these stocks and 48 hours ago when Bitcoin was 56975, I send them an EMERGENCY NOTICE of 10-20% correction in Bitcoin price!
For more information and evidence, please review my analysis in the related links
Moshkelgosha
h patterns everywhere on everything I'm looking at. We have a bloodbath in the making. I closed every position I had whether loss or not. Major selloff in the works
RIOT for 2/22We need to hold above $68 tomorrow. Bullish long term but it looks like RIOT is finding its place. BTC hit new highs over the weekend and I think a key level on it is $56700 vs $78 RIOT. We might have an interesting open, I'm looking for a rise in BTC above $57k to add here if RIOT gets above $78. RIOT right now is figuring out its place, the short term holds are the ones that will bail on any weakness. If BTC isnt strong we will have some chop tomorrow. I like the 58-60 zone to add more right now. Towards close of trading if it holds above $68, I might add if the market overall isnt a selloff.
So Sideways day: No change
Holds above $68: Add some
Above $78 and hold at any point: Add some
Below $58: Short term bearish
This is being posted before after hours trading opens. If we get a run up overnight with BTC, look for a selloff on the open back to fridays closing price and watch for a move back up. Stay away from options expiring this friday unless you are confidently day trading. Give yourself a couple weeks or more on any positions, from this price level up is a longer term play. There could be more pullback possible!
BTBT (bit-digital), the forgotten bitcoin miner to 45?Of the three big public bitcoin mining companies (excluding CAN), you'd expect all three (RIOT, MARA, and BTBT) to look the same. But they don't. RIOT, which has a 100m shelf offering has been the biggest gainer. MARA meanwhile is forming a bit of a bearish wedge on it's ascent, and then we have bit digital, BTBT. This is showing a nice rounded bottom with clear resistance around 30. At 2.2 exahash (per their website front page), this is more than twice the hashing power of RIOT. MARA claims to have funding and orders for 100k machines, putting it at over 10 exahash! So, why is it that BTBT is lagging behind?
I can't say, but the chart shows a very nice rounded bottom pattern. Breaking the congestion around the 30 level could open this up to 45-50 (low of the rounded bottom at 15; top at 30).
MMNG mining global mining-global.com
Not current with Sec
Was registered as mineral mining outfit.
Working on the website
Looks like they gunna try their hand at bitcoin mining. Who else mines bitcoin? Riot and Mara. If your not familiar, I suggest you look at those charts to get an idea of what could happen.
Will it happen Monday? This week? Next month? Most likely not, but investing is about patience and using that one muscle god gave us that separates us from the ape.
Gl all.
RIOT Long Term AnalysisSo I've been watching BTC for the past two years now and from my experience seeing how it moves, I have nothing bad to say about where it's heading. And with the continuous adoption of crypto payments by different financial companies such as Mastercard, and newly acquired TSLA stake, I think the accumulation phase is still underway.
Aside from this, my favorite sympathy play to BTC would have to be RIOT . Not only is the name catchy, but the fact that it has just 6 employees catches my eye. I hear a lot about MARA yet they only have 3!! I like the fact that it also has 11.55% Held by Institution over MARA's minuscule 5.46%. This tells me RIOT 's more invested. Could be because they have double the employees, but either way, it's a win-win.
Sitting at a shallow 4.13 B, the current MKT Cap is nothing compared to upside potential. To put things into perspective, CHWY, a pet food company was acquired for 3.35 billion back in 2017. It now has a market cap of 47.8 B just 4 years later.
To conclude my thesis on RIOT , I'll finish off with a tweet made by Elon Musk yesterday:
" To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.
However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.
Bitcoin is almost as bs as fiat money. The key word is 'almost'. "
The real crypto investment lies elsewhere. That's for me to know, and you to find out ;)
h pattern and my green box from earlierUpdate before close, an h pattern has formed. If this breaks that 58-60 zone box, I'm bailing on this. Be very careful what happens overnight here. Pull in your size, there is no guarantee on a short here but aside from the bearish market and tape on the stock today, the following 2 things I observed:
a. RIOT has decoupled from BTCs price reads - BTC is not significantly down at all but RIOT is.
b. The h pattern is a pretty reliable stock/forex pattern for a bearish turn over. I'm not going to trade it until it breaks $58, perhaps it could be too late by morning anyway. The only reason I'm not going short is because the market itself has had a down day overall, so we might just pick back up with business as usual tomorrow.
Be careful overnight. If you long on it, hedge your position some here. Pull in size if you are able to.
RIOT blockchain bitcoin miningGood possible risk/reward pick up now. watching that 72 as a key level to confirm bullish.
stop at $62
target is $100 to 115
Not financial advice
SOS-did you buy too high -what to do next ? SOS
So let's talk technicals :
The stock shot up 263% (red trend line) in 6 days. It did it in 2 waves of impulse.
The stock got massively dumped on the 17th of Feb – this is a big drop in a 2-hour time frame with over 50% retraced. Not a good behavior of an asset with a catalyst on it as it looks like a pump and dump which is not the case but traders took it as a flip!
Correction on the drop of 50% up from 10.5$ to 13$ -then stock lost traction several dojis in a row.
Guess what comes after several dojis in a row – a drop😊 that’s usually the case if you have an igniting bar followed by Dojis.
The stock touched below 10 – notice 10.5 is a KEY number on this trade!
Volume of entry is bigger than the volume of exit meaning the cycle is completed and now we wait to see where the second cycle takes us (opening volume vs closing volume)
RSI showing more room on the downside on 1H meaning on a 4H we are on the mid of the RSI level
What's the play?
Simple :
If the stock crosses 10.5 below and hits 9 this could be a convergence level where the stock will slowly travel downwards…. We must watch out for 10.5 level and 9 levels!
on the Other hand, if the stock bounces off the 10.5 to the 11.5 line and CROSSES it – we are good to go to the previous high at 16$ and potentially get a new higher high.
Notice accumulation is needed above 11.5 so we may get a side trend on that level before we go to the 16$
Volume Analysis :
3-month average: 23.5M
1-month average volume: 48M
Volume that drove the first wave up 70M
Volume that drove the price down 60M (good means we still have a lot of traders in on this one)
Current volume: appx 10M -keep an eye if crosses 30M we may get another wave up
FDGT will wait to see whats the stocks next move and if we get 11.5$ + we may jump in
Please do your own DD on the stock and trade safe!
We expect a correction on BTC soon that may correlate with the stock
Trade safe and be safe
FDGT the traders union
