Potential short of the short term top in BTC?Second idea, logic similar to the MARA idea. Let's see how it will play out, BTC started rolling over during the weekend ...
RIOTD trade ideas
RIOT: Bullish PennantBullish Pennant
Pros:
Descending volume during formation
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 9
200MA ascending
250RSI above 50
PT = 134.99$
Thank you to those who donate Coins!
Stay Humble, have fun, make money!
RIOT Training Trade Feedback WelcomeHey Everyone, I am new to trading and this is one of my first few trades that was on real paper :-). It was kind of an easy one. But I am hoping with some feedback maybe you can help me tighten up my ideas or tell me you were way off. I entered my position at $65.15. I was watching a 3Min chart which it wont let me share, this is a 15Min chart. Once I established an upper and lower trend. Then I just watched for a place to set my trailing stop. When we hit $77.00 I placed a trailing stop at $3.00 (the lower horizontal line was my stop). I eventually stopped out at $74.81. Thanks for any feedback you can give me on my trade.
RIOT Long Term AnalysisSo I've been watching BTC for the past two years now and from my experience seeing how it moves, I have nothing bad to say about where it's heading. And with the continuous adoption of crypto payments by different financial companies such as Mastercard, and newly acquired TSLA stake, I think the accumulation phase is still underway.
Aside from this, my favorite sympathy play to BTC would have to be RIOT . Not only is the name catchy, but the fact that it has just 6 employees catches my eye. I hear a lot about MARA yet they only have 3!! I like the fact that it also has 11.55% Held by Institution over MARA's minuscule 5.46%. This tells me RIOT 's more invested. Could be because they have double the employees, but either way, it's a win-win.
Sitting at a shallow 4.13 B, the current MKT Cap is nothing compared to upside potential. To put things into perspective, CHWY, a pet food company was acquired for 3.35 billion back in 2017. It now has a market cap of 47.8 B just 4 years later.
To conclude my thesis on RIOT , I'll finish off with a tweet made by Elon Musk yesterday:
" To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.
However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.
Bitcoin is almost as bs as fiat money. The key word is 'almost'. "
The real crypto investment lies elsewhere. That's for me to know, and you to find out ;)
Baby gap$riot had a small gap-up at open for a small first green day. 75c 2/19 average entry at 150 average exit at 225 for 150%. See smaller time frame .
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
Excessive Even for a Blockchain StockUsing an absurd 75% - 20 day envelope on the chart which I think does the job of identifying extreme stretches for this stock. The recent pull back is reminiscent of a blow off the top formation. Don't see why RIOT couldn't halve back to the $30s in the coming weeks even with bitcoin above $50K. Should finish today with a bearish engulfing.
what could happen in next 2 month???after an extraordinary day in RIOT, it reaches one of the most important resistance levels!
in 2018, it experienced a 1200% gain in just 60 days! it is at the same level now.
History tends to repeat itself!.
The difference between Prediction and Analysis..!A prediction, or forecast, is a statement about a future event. They are often, but not always, based upon experience or knowledge. There is no universal agreement about the exact difference from "estimation"; different authors and disciplines ascribe different connotations.
Analysis is the process of breaking a complex topic or substance into smaller parts in order to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle (384–322 B.C.), though analysis as a formal concept is a relatively recent development.
It would be a learning opportunity if you review my RIOT,MARA,and BITCOIN analysis since November 2020.
Please read the comments below the posts, some said RIOT is a scam, some said “haha” to price target.
But they did not bother themselves to read the merits behind my analysis..!
Moshkelgosha
RIOT: Looking like a Bull FlagRIOT was bound to pull back, it had been moving at a red hot pace. Looks like this is forming a bull flag which may present another buying opportunity in the high 50s low 60s range before another move to the upside. Purely speculative, I can see the next upward move taking a similar pull back pause around 120. If Bitcoin continues its steady climb, RIOT will go with it.
RIOT: Afraid of a pullback? A few points to keep in mind!Hello traders and investors! Let’s talk about RIOT today! This one is flying, but is there any reason to worry about it? Let’s see.
First, in the hourly chart we see that it is showing some weakness, but this alone is not going to be enough to make it drop. Yes, it might do a top lower than the previous top, as evidenced by the purple line, but RIOT did this sometimes in the past, and it didn’t work.
I would focus more on the black line at $ 58.78 , because it would lose the previous bottom along with the 21 ema, and this would be something new for the stock. So, the black line is a possible Pivot Point , that could trigger a short-term bear trend, and sharper pullback in the daily chart:
The black line in the 1h chart is today’s low, and so far, we can assume we have a classic Bearish Harami candlestick pattern here. Since it is not near any resistance level, it is not a reliable reversal sign, but it could work as a pullback.
The volume is quite high on RIOT, which is curious, as the volume on BTC has been decreasing in the past few days.
If RIOT triggers a pullback by losing the points mentioned above, the next stop would be the 21 ema . I find it hard to tell if it could seek the support at the $ 29.28, as it is too far away right now, so, I would focus on the 21 ema first.
This would be a pullback, but we have no reversal signs around . In fact, as far as I know, pullbacks are opportunities to buy at a cheaper price, with an optimized Risk/Reward ratio. But first, RIOT must trigger the pivot in the 1h chart!
Let’s follow RIOT closely and remember to follow me to keep in touch with my daily analyses on stocks and indices. Also, support this idea if you liked it!
For more analyses, just check the links below.
Thank you very much!
RIOT PullbackLooks like we've established to volume zones. I dont want to go as far as to say they are Support though. The green box is where we found buyers in the hard selloff today on unemployment news. What does unemployment have to do with crypto or a company with 7 employees? Well I'm sure you know the answer to that. It also looks like we've decoupled RIOTs price level from BTC because the crypto price is back up near all time highs and RIOT has sold off and is trailing now.
Personally I bought the dip and went net long. I pulled back the long positions to a lower price point and moved one out to next weeks expiry.
$RIOT blockchain Stock skyrocketed to new highsBitcoin Blasted Above $50,000 Today, Causing Riot blockchain Stock to Soar as Well
More and more, Bitcoin is becoming accepted by major companies, suggesting it is well on its way to mainstream adoption.
catalysts that are pushing bitcoin price up:
- Mastercard (NYSE:MA) announced that it will allow cryptocurrencies on its payments network before the end of 2021.
- Bank of New York Mellon (NYSE:BK) will also start supporting its clients' Bitcoin needs, according to The Wall Street Journal.
If these truly are the early signs of the so-called phase four of Bitcoin's adoption, then demand could keep growing for Bitcoin throughout 2021.
Demand is growing, and that's why the price of Bitcoin has soared in recent months.
And many investors believe a good way to play this trend is by buying Bitcoin-mining stock like $RIOT blockchain. . Riot blockchain get essentially paid in Bitcoin for providing computing power to the blockchain network. And investors believe revenue and profits will soar with the rising price of Bitcoin.
Moreover, investors are getting excited to see Riot blockchain amping up their computing power (known as their hashrate) because some assume this means the company will be able to mine more tokens.
Riot Blockchain announced it's deploying new equipment over the next week that will take its hashrate to over one exa-hash per second (EH/s). That's quite a lot, and it's an increase of 26% from where it is right now. But investors shouldn't assume that means the company will mine 26% more Bitcoin.
Testing IdeaRIOT is potentially going 3k. This may take 2-4 years to occur, if at all. im thinking potential turn around point for current trend where it will take a break will be between 120-150. Additionally, MACD has barely moved in comparison to past movements/ This is only a test.
90 or bust?$riot is pushing the next resistance at 90. Will Thursday, February 18th be the fifth green-day?
RIOT Volume and price actionThe volume of the first day this thing started to move a week ago vs today, its higher. The selloff this morning while BTC was staying steady spooked me a little bit so I sold off my LEAPS and a few calls that were already in a profit. Going forward, I'm just going to go with more of a neutral strategy, expecting that one day where we get a big selloff. With the current price action and volume though, it might not come. We do have to expect it though and not give back the majority of our gains.
This is my strategy until something changes:
Put and Call side Back ratios:
Sell 1 Put at the money, 2 at a distance away where I can either do it for no cost or a small credit. Same thing on the Call side.
The risk on this strategy is if the stock doesnt move the $10 a day. Essentially i will end up with one extra call or put in the direction of the movement. Opening of the next trading day, I'll make adjustments, if it keeps going in a direction I can eventually buy back the short calls/puts and have free ones to cover retracement. I'll cover the in the money spreads as needed and re-establish
At this point I'm still long on it until it stops going up!
Those perfect set ups..Just because you didn't get that perfect price, doesn't mean that you just should give up.
I remember seeing this stock last year and thinking to myself that it looked like the perfect set up.
Bitcoin , as with all speculative securities, was going parabolic, and RIOT was probably the top sympathy play in the crypto company sector, but I missed the initial move, and just forgot about it.
I`ll just be honest: it`s very hard to look at right now..
Buy BTCUSD For FreeHey Guys! Sorry it's been a little while since I've posted, but I'm back today with an interesting idea that I think many of you may be interested in.
Over the last couple of days, a small Chinese bitcoin mining company called Bit Digital has exploded in value as the market has begun to realize the potential of the company's bitcoin mining operations. In the last few hours, however, J Capital, a short seller, published a report alleging that the company is basically a total scam, has no meaningful operations, and is worth nothing. In addition, they claim that the company's board cannot reach it's ceo for comment, because his whereabouts are not currently known. Publicly wanted for questioning, some have speculated that the Chinese authorities have detained him. This short report, combined with the fall in price of bitcoin over the weekend, sent the stock tumbling down -25% today. Now, while the stock is down a ton, it might be the exact opportunity we need to create a beautiful trade.
Ok, so here's the plan: Long Riot, and Short BTBT. Theoretically, BTBT is worth nothing, but the company will still likely retain some of its trading correlation with BTCUSD. Hence, you can't really just short it outright without controlling your risk. At the same time, you might want to be a dip buyer in BTC, but it's tough to know exactly when the bottom will be and you, like me, likely don't want to risk an investment going to zero.
Hence, our trade. When BTC goes up, RIOT should go up more than BTBT, because BTBT has the fraud and short seller claims as a massive headwind / overhang, though some will still use it as a BTC proxy. When BTC goes down, BTBT should lose more value than RIOT, because the company is alleged to have no meaningful operations, and the only thing holding the stock price up is the hope for higher BTC prices, again, in its use as a BTC proxy. This spread should essentially create a synthetic long bet on BTCUSD, while removing a ton of the risk involved in buying it at these prices.
LMK if you decide to try the trade, and feel free to ask questions in the comments below if you don't understand the idea.
Cheers!
RIOT STOCK IDEA I've been following the trend since it was around $38 - $40,
and I even profit from it, but unfortunately, I sold the shares
I bought at $45, not knowing the stock was going to get to this point.
I could have made more than $200 out of putting $300!
I am pretty sure, it will bounce back down tomorrow to start the new
uptrend coming up which will most likely get to $65 or more!
RIOT SnapbackRIOT is overextended on bollinger bands, totally over the upper band. Overbought on stochastics, greater than 90. It is on a parobolic 5th day move, which i believe is running out of gas and a pullback will happen shortly down to the 46 level.
Riot ( A bigger picture)White lines are daily channel
Yellow line is split channel
Green line was channel top which it hit today
Red lines are targets in case of a pull
1st Target redline is the gap at 52.73, gaps act as support
2nd target is 43 ish which would be around split channel support.
I don't expect a trip back to channel bottom unless bitcoin falls back under 40k.
RSI overbought
MFI overbought
Technically it should pullback but if bitcoin keeps going this could just ride the top of the channel and not pull back
