RIOT potential buy setupReasons for bullish bias:
- Price bounced from support
- Price respected trendline
- Swing trade
Entry Level(CMP): 12.40
Stop Loss Level: 9.97
Take Profit Level: 15.63
RIOT
$RIOT callThe chart looks beautiful!
Bought April 19th $10 call for $2.82
CRYPTOCAP:BTC will be much higher by expiration.
MSTR has more rocket fuel LONGMSTR recently bought up a lot more coins. News that an insider sold $7 M in shares while
interesting is quite meaningless. He still has $150M plus. MSTR is riding a " Bollinger Band
march" on the upper band. This is a huge surge. I was happy to catch a buy today at $1575
off a low-ball limit order that somehow got filled. All things crypto has a great day. It was
a Magic Monday for sure. I will sell some on Thursday mid-day and buy more next Monday.
I know all the contrary ideas- Reckless abandonment. Poor risk management. The answer
my initial capital into MSTR has been long returned to the account ( then spent getting
larger in semiconductors); this is all profit being compounded. If there is some risk it is
all accepted. the entire position has a trailing stop loss of !0% - no problem seen. Risk on.
BTBT RIOT are running in the shadows and the positions are not half bad. BTUSD and ETHUSD
on forex with 100:1 leverage are carrying their own weight.
MARA, crypto miners bubble hypothesis. Rollercoaster P.A.Interesting concept @ MARA and miners. How stocks move conceptually, dont need to take it at face value. When public gets in and it's euphoric is a bubble indicator. Perception of stock to fly etc. And then return to earth.
CLSK set up for a SHORT in a parallel channelCLSK on a 120 minute chart is in a gradually falling parallel channel. At this time price has
topped at the channel's resistance trendline. The RSI has bearish divergence while the
predictive algorithm shows a forecast of a trend down this upcoming week. I will short trade
CLSK here with a stop loss at 20.6 above the channel and target of 14.75 near to the bottom
of the channel. The stop loss of 1.2 compares well with a target about 4.5 downside yielding
approximately 3.5 as a risk ratio.
RIOT retraced and could reverse but BTC is falling SHORTOn the 15-minute chart- RIOT uptrended and then retraced. It is now supported by the
standard Fibonacci retracement zone and UNDER the intermediate term mean anchored VWAP.
On the RSI indicator, the signals are UNDER the 50 level another suggestion of direction
being forecasted. In the meanwhile BTCUSD is trending down. while RIOT is not trading. I will
watch RIOT after the open on Monday fully expecting it will fall into the lower VWAP bands but
there could be a surprise if BTCUSD reverses over the weekend.
Texas Clashes with Bitcoin Mining Firm RIOTIn the heart of Texas, a clash of interests has erupted as Riot Platforms' ( NASDAQ:RIOT ) ambitious plans for a Bitcoin mining facility encounter staunch opposition from local residents and authorities. What initially seemed like a promising venture for economic growth and job creation has now become a battleground, highlighting the environmental and social concerns associated with the burgeoning Bitcoin mining industry.
The Rejection:
On March 11, the Navarro County Commissioners dealt a significant blow to Riot Platforms ( NASDAQ:RIOT ) by rejecting their proposal for a reinvestment zone, a crucial step in establishing the largest Bitcoin mining facility in Texas. Citing overwhelming public opposition, the commissioners opted against approving the zone, signaling a shift in sentiment towards Bitcoin mining in the Lone Star State.
Residents' Concerns:
The rejection reflects a growing chorus of concerns voiced by Texans regarding the environmental impact, energy consumption, and noise pollution associated with Bitcoin mining operations. Despite Texas' historical embrace of industrial activities like oil drilling and fracking, residents are now questioning the benefits of incentivizing Bitcoin miners, especially in light of the industry's hefty resource demands and limited job creation.
Water and Energy Consumption:
Foremost among residents' concerns is the substantial water and energy consumption inherent in Bitcoin mining operations. With Texas grappling with water scarcity and rising temperatures, the prospect of a Bitcoin mine consuming 1.5 million gallons of water daily during peak summer months raises significant alarm. Moreover, the industry's contribution to an estimated $1.8 billion increase in the state's yearly power bill underscores the strain on resources and the environment.
Social Impact:
Beyond environmental considerations, critics argue that the promised economic benefits of Bitcoin mining have failed to materialize. Despite Riot Platforms' pledges of job creation and investment, the reality falls short of expectations, with only a fraction of projected jobs materializing and minimal economic spillover into local communities. This disconnect between promises and outcomes fuels skepticism among residents and officials alike.
The Industry's Response:
In response to mounting opposition, Riot Platforms ( NASDAQ:RIOT ) and other Bitcoin mining companies defend their operations, highlighting the economic activity generated by their facilities and the ancillary benefits to local businesses. However, concerns persist regarding the industry's reliance on automation, which limits job opportunities, and its failure to align with the broader interests of Texas communities.
Future Prospects:
As Riot Platforms ( NASDAQ:RIOT ) contemplates its next move in Navarro County, the broader implications of the Bitcoin mining clash reverberate across Texas and beyond. The standoff underscores the need for a balanced approach to economic development, one that considers environmental sustainability, community well-being, and long-term prosperity. Whether Bitcoin mining can reconcile its ambitions with the concerns of local residents remains uncertain, but the outcome will undoubtedly shape the future of the industry in Texas and beyond.
FUFU a crypto junior miner near penny LONGFUFU went public visa a SAPC ; It is a crypotminer from Singapore. Market cap is SEED_TVCODER77_ETHBTCDATA:1B and the
price to sales is 4. On the 30 minute chart with a set of anchored VWAP lines and a predictive
algo based on Gaussian regression lines by LuxAlgo., price is seen first in a VWAP breakout
into above the third upper VWAP lines peaking on Match 6 and then a gradual full retracement
over the 4 days that follow. It is now under that lowe third VWAP line.The range percentage was
about 100%. I now see this as a long trade with 100% upside to the Fibonacci level of the
downtrend.
BTC miners - bottom is inNASDAQ:RIOT monthly chart. RIOT, MARA, MSTR normalized to BLX. RIOT almost at March2020 lows, MARA more resilient. MSTR almost taking out 2021 ATHs.
TLDR: Rotate MSTR into miners 🙂
RIOT trade idea.If BTC uptrend in tact. RIOT has bullish post-june fundamentals. If Rate cut thesis in tact etc.
MARA fell on a huge earnings beat LONGMARA fell a few days ago while Bitcoin is staging another leg higher along with other coins.
On the 30-minute chart, MARA is in undervalued territory below the mean-anchored VWAP
and near to the bottom of the high volume area on the volume profile but above the POC line.
This seems to be an obvious long trade for me to take. I will set a stop loss of $1.00 below
market price and a target of $31 halfway between the mean VWAP and the first upper VWAP
the line above it. A call option trade striking $30.00 expiring in three months will be
considered. MARA fell from excellent earnings which apparently disappointed some
traders /investors. The discount sale is hard to resist given the current fundamentals in the
crypto markets.
MSTR oversold for a long tradeMSTR is now oversold but has a great earnings beat and the cryptomarkets surging to support
a bullish idea. The 15 minteu chart shows price sitting on support of the POC line of the
immediate volume profile. With confluence, it is above a fully horizontal lower VWAP line
that has no slope. Support and resistance horizontal zones are drawn in for reference purposes.
I will close my short position of the past day and switch sides here. The RSI indicator gives
reassurance as it has pivoted up from the bottom, especially the faster green line. Selling
volatility declared the bottom in the immediate term at the same time the relative volume
indicator printed a selling volume spiking black bar both immediately before the regular
market closed.
RIOT: In the middle; bull and bear caseIt's been rough for the miners. As BTC is making all time high, miner stocks are not getting any love. This divergence is ultimately result in market picking a direction after the consolidation is over. Right now, RIOT is range bound, sitting at the middle of a channel. I have both bullish and bearish EW count. Whichever is correct, doesn't really matter, as longer timeframe still looks very bullish.
Bullish case:
The blue count assumes minute degree wave 3 should start very soon. As long as price stays above $9.64, the bull case is still alive. Price looks to have found some support at the midline of the channel and if next week we see a nice big candle to the upside, it might get some momentum to start the wave 3 of 3 of 3. Risk is lower above $18.5.
Bearish case:
The black count assumes intermediate wave 2 correction is about to complete. Minute degree wave 3,4 and 5 will get going very soon and price should get back towards the bottom of the channel to complete this almost 8 months long consolidation. This may also align with a short correction for BTC and overall markets for the next couple of weeks. After that we should see a clear reversal and upward movement.
RIOT - Recovering Vectors and Gaps - BullishNASDAQ:RIOT
-Consolidation is expected as lower highs and higher lowers are printed
-RIOT is filling gaps and vector candles at ~11.5 and ~12.2 respectively
(So buy zone should be around those)
-Pivot point was registered at 11.94
-As long as it doesn't break the low ADR ~11.3 we should be good
-If it breaks low ADR, the new pivot could be ~9.7
-Target 1 should be ~14.6 as it recovers vector
-Target 2 should be ~16.3 as it recovers vector in daily timeframe
*Not Financial Advice*
IBIT short-term ideal based on BTC I’ve been looking at the trend bitcoin is taking and i think it may be exhausted and taking a breather… I also have been looking at crypto mining stock such as riot and Mara both developing a double top, and with the ascending triangle Btc has, i think it may actually move downwards to fill a gap, and push back up. Also the long tail on the red candle tell me people have selling sentiment at that level and it will give people the opportunity to get in. I’m new to posting my ideals but i’ve been at it awhile. Not finical advice, do your own due diligence.
RIOT to $30Consolidation complete with rising BTC, this should bounce of right shoulder as support for invers H/S and run to $30
Bitcoin approaching $60,000. Getting closer to All-Time High!Bitcoin (BTC) Is getting closer to $60,000 and may eventually break the All-time High. There are a few ways to capitalize on BTC moves.
1. Direct purchase of crypto from crypto exchange like Coinbase
2. Invest in stocks associated with BTC. Examples include NASDAQ:MARA , AMEX:GBTC , NASDAQ:COIN , NASDAQ:RIOT , NASDAQ:MSTR
3. Invest in LEAPS options on the same stocks (powerful strategy)
4. Invest in ETFs associated with BTC. Examples include $ARKN, NASDAQ:IBIT , AMEX:HODL , AMEX:FBTC , AMEX:BITB
5. Invest in Bitcoin futures
Expect all of these to move up as BTC approaches $60,000
Riot Blockchain Achieves Record Revenue of $281 Million in 2023Riot Blockchain ( NASDAQ:RIOT ), a leading Bitcoin mining and data center hosting firm, has reported record-breaking total revenue of $280.7 million for the year 2023. This impressive milestone underscores Riot's resilience and strategic growth initiatives amidst a dynamic cryptocurrency landscape. With a surge in Bitcoin production and a commitment to expanding hash rate capacity, Riot continues to solidify its position as a key player in the Bitcoin mining industry.
Record Revenue and Bitcoin Production:
Riot's total revenue surged by 8% from $259.2 million in 2022 to $280.7 million in 2023, driven primarily by Bitcoin mining revenue, which accounted for $189 million. Despite challenges such as increased expenses and higher power costs, Riot managed to increase its Bitcoin production by 19%, producing a remarkable 6,626 BTC in 2023. This achievement is particularly notable considering Riot's strategic efforts to curtail power usage during peak energy demand periods.
Strategic Expansion Plans and Hash Rate Growth:
In line with its growth trajectory, Riot ( NASDAQ:RIOT ) increased its hash rate capacity by an impressive 28% in 2023, reaching a record 12.4 EH/s by December 31st. Looking ahead, the company aims to bring additional capacity online at its new Corsicana facility in Texas throughout 2024. CEO Jason Les emphasizes Riot's ambitious targets to further expand its hash rate capacity, with aims to reach 28 EH/s by the end of 2024 and ultimately surpass 100 EH/s in the future.
Financial Strength and Balance Sheet Enhancement:
Despite incurring a net loss of $49.5 million in 2023, primarily due to higher expenses, Riot maintains a robust balance sheet with approximately $597 million in cash and 7,362 Bitcoin, valued at approximately $311 million based on year-end Bitcoin prices. The company's prudent financial management and strategic investments position it for sustained growth and resilience in the cryptocurrency market.
RIOT RUNS ON BITCOIN LONGRIOT is shown on a 15 minute chart over the past 7 trading sessions showing 3 trends up
then with intermittent consolidation then a trend dow. The trend down is the most
important. Given the strength shown on the indicator demonstrating bullish divvergence
I believe that RIOT is now set up for a pullback entry long either shares or options at this time.
Let me know if you need trade specifics for either. See my other ideas for BTCUSD, MSTR,
HUT, BITF and the rest. COIN is also worth a look as an earnings play. Buyer note- any of
these could go into short squeeze if a decent upside price action sets things in momentum.
RIOT Buy the Bitcoin Pullback? LONGIOT on the 30 minute chart has pulled back 35% from its end-of-the-year high when Bitcoin made
a bullish move. Bitcoin has settled down and RIOT has followed that trend down. the MACD
lines are above zero while the RSI lines have settled in deep oversold territory. I see this as
a good entry for a long position with at least 50% upside and much money if taking
call options. As to the latter, I would look for a Juen expiration at a strike just below the
POC line of the volume profile which is confluent with the mean long-term VWAP. My goal is
a 500% return. The OTM call options are cheap enough to take several and then take
partial profits each time Bitcoin reaches a pivot high over the interval and maybe pick up
another when a it finds a pivot low.
RIOT: Bull and Bear ideasRIOT has made a V recovery once again, making the bear case almost obsolete. The primary and secondary trendline resistance has been successfully broken and right on the third trendline resistance at the moment. Let's look at bull and bear case and see when to enter the rocket to the moon.
Bull case:
If this is the beginnings of intermediate wave 3, then the current price action is at the start of Minute degree wave 1. We should see a higher high above December high and then a correction. The correction or Minute degree wave 2 cannot break below $8.61. After that we should see the strongest part of the rally which will be a wave 3 of 3 of 3. Ideally, after a higher low is confirmed, entry point would be above the previous higher high. We are looking at triple digit numbers, so it is OK to wait until we see a solid support above $19.
Bear case:
Bear case would still suggest intermediate wave 2 is still in effect. The correction just got a whole lot more complex. The current price action could be part of a B wave triangle where a C wave is still in the books, or it could be part of a larger Y wave that will take things down back to previous lows. At this point these two scenarios cannot be written off. Need to let some more time pass before the bear case can be completely thrown out.
We should see a correction of the current runup in the next week or two. How that plays out will confirm which way is right. Ideally, a higher low and higher high on weekly will provide confidence on bull side.
