RIOTD trade ideas
RIOT forming a nice bull patternA friend of mine asked me to take a look at Riot Blockchain Inc. (from their official website: Riot Blockchain Inc. is focused on building, supporting and operating Blockchain technologies).
Anyway, chart is looking good:) Will watch it closely.
Trade with care! - chartingfeed
Riot Blockchain, Inc. On watchlist for channel break Riot Blockchain, Inc. engages in the provision of investment services to the blockchain ecosystem as well as manufacturing in-vitro substances. Its portfolio includes Verady, Coinsquare, and Tesspay. The company was founded on July 24, 2000 and is headquartered in Castle Rock, CO.
$RIOTThis finance conglomerate has the essence of the future, a famous painter once said,"the one who owns the future, is the one who builds it today." Aside from this business venture of having crypto flow into this space of the stock market is one of few. With financials & technical analysis you can see the resistance that was being held until the breakout of a consolidation, where we have support as well as a strong Fibonacci level playing accordingly.
Buy before Aug 7 earningsBuy before Aug 7 earnings the last two earnings were good but mainly it is the interest in BTC that is driving the price - who knows the ASIC chip and mining companies will explode in 2021. So you have all year to buy the dips. I hope you got in on this spring swing up from March Lows
RIOT Falling Wedge - Possible BreakoutWEEKLY PRICE CHART - PRICE ACTION BEFORE AND AFTER BITCOIN HALVING 2016/2020
As we can see from the chart there is a falling wedge forming from around mid 2018. In the near future in going to breakout and have the most possibilities to breakout on the upside following the post-halving bitcoin price action in the mid and long term that is definitely bullish.
CHART
- The blue marks, signs the main resistance/support levels in the pre-halving price action.
- The orange vertical lines are the dates of the bitcoin halving at 2016 and 2020.
SCENARIOS
1. The falling wedge is most possible generally to breakout to the upside. In the short term is gonna break, it is near the end.
2. The bitcoin halving is one day and of course in the short term there is a lot of sellouts and dumps that is logical but in the short and long term is always bullish.
3.This company is so close related to the bitcoin price and it out of the few company listed on NASDAQ that working with blockchain space.
So i think i the mid and long term is gonna be bullish.
This is just my opinion, its not an financial or trading advice. Each person must do its own research before investing in the market.
RIOT long for future of BTC Personal opinion only, please follow me. Also I’ve been long time fan of RIOT management they been there long time. It started seeming similar to Ponzi scheme until the lawsuit said they had around 20M in assets and that was phenomenal because it was like a government sponsored external audit.
RIOT is not a $2 plus stock but it’s a $1+ stock. When it’s below 1.00 it’s a great buy.
Similar stock being Canaan maker of Avalon miners.