RIOT might be forming a Livermore Accumulation Cylinder.Price action looks like a Livermore Accumulation Cylinder. Keep an eye out on the price action for the next 2 weeks to see what happens.
RIOTD trade ideas
I Predict A RIOTRiot Platforms NASDAQ:RIOT
- Above 200 day SMA & sloping upwards
- Ascending parallel price channel .
- Break of OBV resistance levels have been positive
- We have just broken above the Feb 2021 OBV high
New entries into this trade would be better waiting for a re-test of the bottom of the channel with a stop placed beneath it.
As we are breaking out of the OBV high, you could enter a trade here but with a tight stop loss at $18.30. Probably not worth it IMO. Better to wait or look at the other smaller miners.
I previously covered CIPHER Mining NASDAQ:CIFR and Marathon Digital Holdings NASDAQ:MARA both of which at similar junctures, however $CIPHER has had major developments of recent and could rise up to it next resistance at $9.60 fairly quickly over a few months (an 80% + move).
You'll find these charts in my trading view link in my bio. I also cover some fundamentals on Trading view also. They are also in my feed hereunder.
Play it safe
PUKA
RIOT: Approaching a significant support area.RIOT is correcting with the rest of the markets. As crypto market is doing damage control, it is interesting to see how RIO and other mining companies will hold up. Q2 earnings were good and RIOT is many progress on many of their problem areas, but the price will follow the broader markets. Price is however approaching a very strong support area along with .618 retrace of the run since the December bottom. At least a decent bounce can be expected there. if that doesn't hold then the next support area also coincides with the .5 fib retracement. Longer terms it is also creating some sort of a cup and handle pattern, so in either case, I will be watching BTC price action closely to make my next entry. Wave 3 target is high up in the sky, so there is no big rush. Last entry returned about 4x. Next one could be over 10x if things play out the they should...
Is this a good time to buy RIOT ? LONGRIOT has had a downfall in the past month on the 1H chart. The crypto
market had a resurgence and is now in the dog days of crypto summer.
The MACD shows some bullish divergence.
The volume profile shows most of the buying was in the 16-17 range. RIOT
is far below that with relative volume voids in any movement back to that level.
I see this as a long trade setup with 30-40% upside on the stock and much more
in a one or two month call contract. If you would like to know my parameters on
a long stock trade or call options please leave a comment. ( please also see
my BTBT post, like and subscribe).
Riot Platforms has shown an accelerated decline patternRiot Platforms has shown an accelerated decline pattern
This figure shows the weekly candle chart of Riot Platforms' stocks in the past three years. The top to bottom golden section at the beginning of 2021 is superimposed in the figure. As shown in the figure, the stock of Riot Platforms has shown an accelerated decline pattern in the past three weeks, and is about to challenge the bullish starting point in June 2023! From the double bottom pattern at the end of June 2022 and the beginning of 2023 to the overall pattern of the three small bands of upward trend, there are still new highs in the future, but the space above is limited!
Riot July 1st weekend candle recap 2023Pls #dyor 🙏 #nfa
This analysis is just recap to my old signals 2 post's if u have not checked pls ✅ check in tag of this article below
I provided successfully 45% profit so far 🔥
As per 1st analysis it was broken parallel channel and good 👍 close
As per 2nd analysis wave pattern the best it was leading and near to 1st target 📌
1st of all we need to know it's going with btc price % action
Some times with #btc good move some time it's moving btc price
The previous weekend candle July 3rd 2023 started good closed 🔐 too good 👍 in post market it almost reached $16
I think 🤔 there will be a good correction 😉
Before reaching above $17
I am expecting correction range $12-14.2
note 📌 if u are investor just bid at good prices come back after year 😂 bcs u can see green ⬆️💚 candle as u need 📌 if u predict that
If u long term person but getting ur heart ❤️ up and down 📌 👎 u ar not investor's turn as trader
It's tough job not 🚫 as PPL thinking millionaires
Our life will lead top 🔝 if our time and work was good 👍
If our work good my fate is bad it helps other
I experienced every bit of pressure 📍 now became professional trader 😉
RIOT is giving us great tradable set ups
Already touched a negative area on the way up.
Has been too extended for a long time.
BTC is in super low volatility = No interest from the public
Triangle top pattern
Missed Revenue forecast by a long shot
Crypto bear perspective pre-halving year bias
Riot - Only for Bullish BuyerThis analysis is only for those buyers, who trade in the bullish market, according to my analysis it will follow the bullish trend if it hits the entry point level.
RIOT | InformativeNASDAQ:RIOT
If the price of RIOT breaks above the bullish line of 20.60, it may indicate a bullish signal, suggesting potential upward price movement. In this scenario, the target prices could be set at 22.45, 25.70, and 28.40.
Conversely, if the price of RIOT breaks below the bearish line of 19.15, it may suggest a bearish signal, implying potential downward price movement. In this case, the target prices could be set at 17.59, 16.99, 15.75, and 11.86.
*I'm slightly bearish based on the daily candlestick.
My most used indicators Title.
RIOT is outperforming the entire market. Mostly it’s for showing the best community made scripts in pine as beautiful indicators.
RIOT - Rising Trend Channel [MID -TERM]🔹POSITIVE signals inverse head and shoulders formation with resistance breakout at 14.72 and potential next resistance at 24.50.
🔹RSI curve shows rising trend to supporting POSTIIVE trend.
🔹RSI above 70 indicates strong short-term POSITIVE momentum.
🔹Technically POSITIVE for the medium long term.
Chart Pattern:
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
RIOT - uptrend underway (painstakingly but surely)RIOT formed an Adam and Eve base formation and began to break out of its first neckline @7.80 on 17 March. We then saw a classic "breakup and retest (of neckline) several days later before it began to propel on strong volume to break decisively above its 2nd neckline @10.50.
Alas, just when we thought it was on its way to the moon after hitting high of 14.43 on 18 April (almost doubling from its first neckline@ 7.80), it then went into a messy and violent wedge consolidation for the next 2.5 months ("death by a thousand cuts"! LOL).
Finally on 3rd July, it broke out of this wedge decisively and today (3 days later) we have another clear break above its last significant high @ 14.43. The stock is clearly in a rising trend now (and likely more small cap stocks will follow suit in the coming months).
Stops raised to just under 12.60 now.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
RIOT possible breakout over the next couple weeksRIOT has been setting up and consolidating in these red channels for quite a while, and this recent upwards channel leads me to believe that we'll be seeing some significantly volatile moves over the next couple weeks. $15-17 is my short term estimate, possibly $20 by the end of the month.
RIOT is overvaluedI believe that the most recent decline from 13 to 10 dollars is an impulse and that we have completed a zig-zag correction. An aggressive entry would be at the current price with a stop at the high. If you want to wait for confirmation, then a break below the current low at 10.50 will warrant a short trade entry.
Good Luck,
abardini
Massive bull incoming for $RIOT-No debt
-7k btc in treasuries
-cost of production of 1BTC ~10k
-price explosion after halving in 2024
-BlackRock, Fidelity, etc. filing for ETF
Riot Triangle and ChannelDowntrend parallel channel for this crypto related stock. Current chart pattern looks like a triangle with what could be a bull flag forming below the upper line. It looks to me like a break upwards could occur soon.
$RIOT - Weekly (Upward Channel)If you are looking to enter and play with the crypto world NASDAQ:RIOT is a great option since it's has institutional holders without the steep price tag of $BTC. It moves with CRYPTOCAP:BTC so when CRYPTOCAP:BTC is up, NASDAQ:RIOT is up and vice versa. It's been slowly building support but I see a steady upward channel. R at 13 and S at 8.75. I think it has potential to reach 25+ in 2024 when CRYPTOCAP:BTC halves.
RIOT - Better Days are ahead
Coiling in a textbook fashion. Right side of inverse handle likely to be formed up next. I'd expect a pullback again there for more consolidation.
T1: 14
SL: 11.30
$RIOT Potential SetupNASDAQ:RIOT getting tight with early turn after a 75% decline from 2021 top.
Clear supply line with higher than average selling on Friday right from that level.
$RIOT Awaiting A Major CatalystThe Bitcoin mining leader Riot Platforms, Inc. (NASDAQ: RIOT), is, to no one’s surprise, deeply tied to Bitcoin prices, which have seen a 65% increase YTD. With the government forecast to run out of money as early as June 1, talks about a debt ceiling deal to be finalized by next week started arising. The general sentiment at the moment is that a deal will be made before June after positive talks between President Joe Biden and House Speaker Kevin McCarthy. That would pave the way for Bitcoin’s value to increase as it is a risky asset, and risky assets’ value is deeply tied to macro stability, which in turn will see the RIOT stock price increase.
RIOT Fundamentals
As of right now, the US is navigating the uncertainty of the debt ceiling as the deadline gets closer and closer and the risk of defaulting increases. Defaulting would be catastrophic, not only for Bitcoin and RIOT but for the whole stock market and the US economy. The US government probably will not resort to defaulting because of the risks it poses for its economy.
A deal was put forward to suspend the debt limit by $1.5 trillion or until March 31, 2024, in exchange for other demands like a spending cut for the next 10 years, it is expected that a deal will be reached before June regardless. This sentiment was made stronger after President Joe Biden and House Speaker Kevin McCarthy gathered Monday evening for one-on-one negotiations and offered strikingly optimistic takes on where things stand.
If a debt ceiling deal were to be made, that would mean that the US has reached macro stability. In that case, the stock and cryptocurrency markets would see more of a bull market, which is all good news for RIOT. As a leader in Bitcoin mining, if Bitcoin saw an increase in value it is expected that RIOT stock would also increase alongside it. Bitcoin was already doing well this year in what a lot called a bear market, so it is expected to rise even more in case a deal has been reached.
RIOT stock saw a 10% increase earlier this week and a 249% increase YTD despite RIOT recording disappointing Q1 2023 results. There is also a chance of a short squeeze happening as RIOT stock has a short interest rate of 15.92% and 34.85% of its free float on loan, while also having a 100% utilization rate. This can result in the RIOT stock price soaring as the short sellers are forced to cover their short positions.
In Q1 2023, RIOT Produced 2,115 Bitcoin as compared to 1,405 Bitcoin during the same three-month period in 2022 and currently holds 7,094 Bitcoin which amounts to $202 million at the current Bitcoin trading price. RIOT is currently building a 1-gigawatt developed capacity facility in Texas to expand its Bitcoin mining and data center hosting capabilities. In that case, RIOT would increase its Bitcoin production by a huge margin once the facility becomes online. That would mark RIOT increasing its revenue exponentially especially if Bitcoin rallies after the debt ceiling deal.
RIOT Financials
In its Q1 2023 report, RIOT’s assets decreased 5% YoY from $1.319 billion to $1.250 billion, and its cash and cash equivalents decreased 31% YoY from $230 million to $158 million. RIOT’s total liabilities saw a slight increase of 6% YoY from $168 billion to $158 billion.
Revenue also increased 8% YoY from $79 million to $73 million. Operating costs increased almost 225% from $40 million to $130 million, which contributed to operating loss increasing nearly 240% YoY from $39 million in operating income to $56 million in operating losses, which amounted to a net loss of $55 million – a 250% increase YoY.
Technical Analysis
RIOT stock’s trend is neutral with the stock trading in a sideways channel between $10.3 and $12. Looking at the indicators, the stock is trading above the 21, 50, and 200 MAs which are bullish indications. However, the RSI is overbought at 71 and the MACD is bullish.
As for the fundamentals, RIOT’s main catalyst is the expected Bitcoin rally if a debt ceiling deal is reached. Despite the RSI being oversold, RIOT stock could continue performing well due to the positive expectations of reaching a debt ceiling deal.
RIOT Forecast
Bitcoin and in turn RIOT stock have increased 65% and 249% respectively YTD. If a debt ceiling deal were to be made and the U.S. reached macro stability both assets are expected to run. The next few days are important for RIOT stock as the talks continue to reach agreeable terms between both parties.
RIOT Alongside MARA - Possible long setupDips getting bought around 10$. Price range it's getting tight with a nice bullish flag pattern forming. I would like to enter before the breakout happens (if it happens) with a very small risk.
RIOT: long until the channel breaksRIOT has hit a snag and has been consolidating as Bitcoin struggles to breakthrough 30K ceiling. With the current macroeconomic headwinds from debt ceiling clown show to fade rate circus it is not unexpected that BTC may fall back to 20 K support. If that happens, then RIOT will also take a hit and the current bull case might be in jeopardy. But I am still hopeful as the price action looks much more like a wave 4 correction than a big impulse to the downside. Until the channel breaks, I will stay long with $21 target. Will go short if the bull count is completely invalidated below $7.76. I don't short BTC but use RIOT and MSTR as a proxy to short crypto market.
