RIOTD trade ideas
Long | RIOTNASDAQ:RIOT
Possible Scenario: LONG
Evidence: Price Action
This is my idea and could be wrong 100%,
TP1 ~64, 68, 75
CALLS for 26 March Strike 78$
028. PIGGISH PLAY - Short Riot Blockchain, Inc. (RIOT)Simply put, RIOT's share price is mostly a function of the price changes in Bitcoin and the price changes in the Nasdaq. Thus, if it appears that both of these asset classes are breaking down technically, it follows that RIOT will do the same, but in a synergistically bearish way. The correlations displayed at the bottom of the chart speak to this conjecture.
Technically speaking, both RIOT and BTC appear to be completing terminal impulses in the Wave 5 position (on the primary/cycle scale), as we speak. The implications of such a completion are near-immediate retests into the Wave 2 area of the same degree. Hence, the rules of wave principle are guiding this trade with additional certainty. Plus, it is a fantasy to think that this company could stay aloft for much longer regardless of the underlying structural conditions of either BTC or NDX.
Now then, onto the Pig Specs for option selection.
Pig Specs:
Buy PUTS: (Expiration: 4/1/2021; Strike: 60)
Entry: Wait for an hourly close below 60.00/share and then launch the contracts specified above. The relative discount of going out of the money is not worth the additional risk of getting there in this case, IMO.
Exit: I would make this a quick trade and profit all once the share price hits 45.18.
I foresee actual riots forming in the streets once the stock market starts the heavy selling process. If I could, I would short those too.
The moral of the story is to always short riots.
-PissedOffPig
NASDAQ:RIOT
COINBASE:BTCUSD
CRYPTOCAP:TOTAL
CURRENCYCOM:US100
TVC:NDX
TVC:IXIC
RIOT. Riot. riotEarnings coming up and it could go either direction when the trend line meets at the symmetrical triangle.
Volume needs to be picked up as today it was around 1/2 of the average volume we typically see in RIOT.
RIOT Critical Update!IOT has been trending in this parabolic wedge for over a month, and a retest of support seems imminent. Not only would it fill the gap created overnight, but it would also create a hard floor, something we very much need. RIOT will break out of this wedge by the end of the month and I am expecting this to result in a retest of the $80 highs set in February.
Bitcoin and some altcoins this morningLeaning bearish short term with expectation that the 42k bitcoin is still the low in the larger scale. ready for a reversal if we see some strength.
go over bitcoin, ethereum, cardano, raven, RIOT.
not financial advice
RIOT Resistance CurveI drew a parabolic curve here because even though they are more common on cryptocurrencies, I do see Riot Blockchain going parabolic in sympathy with bitcoin.
Bitcoin in Retrace - Fundamentals Push Riot to the DownsideMy outlook and price targets for the early part of the coming week. Extreme downside targets are only achievable if Bitcoin retraces into the 40K range. This might or might not occur, so watch the market and form your own judgements. All times are in Pacific Time.
$RIOT - grab your commonsSlight IHS
Stochastic strong
MACD is cinched
ATR is settling
Call option buying is strong
I like selling calls against commons on RIOT and buying back lower or allowing to expire worthless.
It's volatile, so be careful.
Bitcoin, MARA, RIOT Set To Breakout To All Time High?Since a month ago, OTC:GBTC had a reaction dropping 26% from its peak with increasing supply. However, there are a number of bullish characteristics formed after the sell-off. These are the tell-tale signs for trend trading to ride on the strong trend of BINANCE:BTCUSDT .
Find out why BITFINEX:BTCUSD is set to breakout and how to benefit before it makes the explosive gains by trading Bitcoin or stocks like NASDAQ:MARA and NASDAQ:RIOT . Key support and resistance levels are elaborated in the video for low risk entry via trading the breakout or trading the pullback.
$RIOT - Can we go higher? $RIOT looks ready for much higher prices this upcoming week.
$BTC is up big and approaching new highs.
Im going to be looking for a good entry this week... based on price action.
Riot needs a close above 68 on the dailyWe're back in a range again, getting repelled by the $68 level. We need a close above here to move on.
RIOT New projections 3/18 until levels are breached.RIOT New projections 3/18: With the movement of BTC and the integration of intangible assets in the financial system, RIOT is poised for the upside. Levels indicated are supply/demand zones where significant movements are observed for price action. Projections hold until max level (upper limit) is breached.
$80 RIOT INCOMING?If BTC bull flags up on the hourly as I have laid out in my other post, I do believe we will see RIOT reach the $80 level. RIOT has is own awkward bull flag forming, not the most technical or cosmetic but still... This is not financial advice.
Riot Blockchain gains +13% on Fed newsThe Federal Reserve now sees inflation running to 2.4% this year, above its previous estimate of 1.8%. The central bank now expects real gross domestic product to grow 6.5% in 2021, compared with its 4.2% forecast from its December meeting. The Fed estimates the unemployment rate will fall to 4.5% in 2021, below the previous estimate of 5%. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. This is for educational and entertainment purposes only. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
