RIOT and BTC One More Leg Up before the Crash!Check out my analysis on RIOT Blockchain and Bitcoin! I'm bullish on both assets, expecting a breakout to $73-$75k for Bitcoin and a target of $14 for RIOT within 1 to 2 weeks.
RIOTD trade ideas
RIOT: Staying on bearish side until bulls can prove me wrongStaying with bearish count until price can break above $18.36. Since BTC is pumping, would expect some more gains for RIOT next week, but don't expect much at the moment. The earnings were good and company is doing a lot of right things to become the leading name in mining. There is an inverse head and shoulders patter forming. I have taken a small position at around $8.5 where I got a buy signal and taken some profit. I want to see another lower low to fill my bag properly. If I don't get my wish and if $7.8 was the final low (technically it could be), then I will look to buy the dips only after price moves above $18.36.
Bullish RIOT Short Term, Diamonds Everywhere!Bullish on RIOT: Diamonds Everywhere!
Late Day and 1 Week Rally Inbound
Short Term Target: $11 | Intermediate Next Week Target: $14+
The cryptocurrency market is heating up, and RIOT Blockchain Inc. (NASDAQ: RIOT) is poised to shine brightly. Here's why I'm bullish on RIOT for the short term:
1. Bitcoin Momentum:
Bitcoin (BTC) is witnessing renewed momentum, and as one of the largest Bitcoin miners in North America, RIOT stands to benefit significantly. With Bitcoin surging towards key resistance levels, RIOT's mining operations will likely experience increased profitability, driving the stock price higher.
2. Institutional Interest:
Institutional interest in cryptocurrencies is at an all-time high, with major financial institutions and corporations investing heavily in Bitcoin. This influx of institutional capital not only bolsters Bitcoin's value but also validates RIOT's business model as a leading Bitcoin miner.
3. Market Sentiment:
Market sentiment surrounding RIOT is overwhelmingly bullish, with analysts predicting further upside potential. The recent pullback presents an attractive buying opportunity for investors looking to capitalize on RIOT's long-term growth prospects.
4. Technical Analysis:
Technical indicators suggest a bullish outlook for RIOT in both the short and intermediate terms. The stock is currently trading above its 50-day moving average, indicating positive momentum. Additionally, key support levels are holding, suggesting strong buying interest.
5. Catalysts:
Several upcoming catalysts could propel RIOT's stock price higher in the coming days:
Earnings Report: RIOT is scheduled to release its earnings report, which is expected to show robust revenue growth driven by increased Bitcoin mining activities.
Bitcoin Halving: The upcoming Bitcoin halving event, scheduled in the next week, will reduce the reward for mining new Bitcoins, potentially leading to a supply crunch and driving Bitcoin's price higher, benefiting RIOT's mining operations.
Conclusion:
In conclusion, RIOT is well-positioned to capitalize on the growing interest in cryptocurrencies, particularly Bitcoin. With favorable market conditions, strong institutional support, and upcoming catalysts, I anticipate a late-day rally followed by a sustained uptrend over the next week. My short-term price target for RIOT is $11, with an intermediate target of $14 or higher. Investors looking for a high-growth opportunity in the cryptocurrency space should keep a close eye on RIOT. Diamonds are indeed everywhere for those who know where to look, and RIOT is one of those sparkling gems.
(Note: Remember to perform your own due diligence before making any investment decisions. Cryptocurrency investments carry inherent risks and may not be suitable for all investors.)
BULL diamond on Bitcoin!BULLISH DIAMOND ON BITCOIN.
After 12 PM Close I'm bullish long Calls 10.50 may 3rd to may 17th. Let's go!
This is not a recommendation though.
RIOT BLOCKCHAIN BACK TO $18Riot blockchain was able to post a great Q1 earnings report which is bullish for the stock. It has currently printed what I believe to be an inverted H&S on the daily timeframe.
Riot forming a wedge pattern as Bitcoin double bottomsriot wedge as bitcoin double bottoms!"Riot forming a wedge pattern as Bitcoin double bottoms. The wedge suggests a bullish breakout towards $11 and beyond."
RIOT: Perhaps a consolidation will form.Perhaps a consolidation will form with a greater probability of breaking upward. The growth driver could be the advertising of spot Bitcoin ETFs.
$RIOT, more downside before upside?I know everyone is bullish BTC and miners here, but the charts still don't look great even after the bounce.
I think what's most likely from here is that we sweep the lows before getting a sustained trend higher.
We're rejecting off resistance here at $12. I think this is likely to lead to a strong move to the downside. We have a ton of gaps to fill from the move up, and supports haven't been retested from the initial leg up in February.
Most likely scenario is to find support in that $6.69- $7 region and then I think we'll likely see a positive reaction after earnings next week.
Lots of risk over the coming days IMO. Bid lower supports and then we'll see how high we can go to the upside after.
RIOT Platforms Options Ahead of EarningsAnalyzing the options chain and the chart patterns of RIOT Platforms prior to the earnings report this week,
I would consider purchasing the 15usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $2.98.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Gemini AI Analysis of RIOT (Riot Platforms) Stock (Bottoming)
Based on the provided chart and technical indicators, here's an analysis of Riot Platforms, Inc. (RIOT) and its potential forward outlook:
Trend Considerations:
Long-Term Downtrend: The price has been in a long-term downtrend since late 2021, evidenced by the consistent lower highs and lower lows. The descending trendline confirms this downward trajectory.
Recent Consolidation : The price seems to be consolidating within a range recently, indicating a potential pause in the downtrend.
Momentum Indicators:
RSI (Relative Strength Index): The RSI is currently around 28, which is near the oversold region (below 30). This suggests that the downward momentum might be weakening and a potential rebound or consolidation could occur.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line and both are negative, indicating bearish momentum. However, the histogram bars are decreasing in size, which could be a sign of weakening bearish momentum.
Other Observations:
JP Macro Trend Dynamics : This indicator shows a mix of green and red bars with no clear trend, suggesting uncertainty in the market sentiment towards RIOT.
Heikin Ashi Candles: The Heikin Ashi candles are predominantly red, confirming the overall bearish trend. However, there are some recent instances of green candles, hinting at potential buying pressure.
Support and Resistance : The $10 level appears to be acting as resistance, while the $8.50 area might be providing some support.
Forward Outlook:
The technical indicators suggest a mixed outlook for RIOT.
While the long-term trend remains bearish, there are some signs of weakening downward momentum and potential consolidation .
Possible Scenarios:
Continuation of Downtrend: If the price breaks below the recent support around $8.50, it could signal a continuation of the downtrend, potentially reaching lower levels.
Rebound or Consolidation: If the price manages to hold above the support and the RSI moves out of the oversold region, we could see a rebound or a period of consolidation within a range.
Trend Reversal: A break above the resistance at $10 with increasing volume and confirmation from other indicators could signify a potential trend reversal and a shift towards a bullish outlook.
Additional Factors to Consider:
Overall Market Conditions: The performance of the broader cryptocurrency market and Bitcoin, in particular, will significantly influence RIOT's price movements.
Company-Specific News and Events: News related to Riot Platforms, such as earnings reports, expansion plans, or regulatory developments, could impact investor sentiment and the stock price.
It's important to note that technical analysis is not a foolproof method for predicting future price movements. It should be used in conjunction with other forms of analysis and a comprehensive understanding of the underlying asset and market conditions.
RIOT strongly go up!RIOT strongly go up!:
-Morning star candle pattern.
-Key level support.
-Trendline support.
-Demand zone support.
RIOT is about to fill the gapRIOT is about to fill the gap either today or tomorrow.
I published the same idea on miners previously, from there the stock was up around 30%
BTC, RIOT, MARA and More...Catch our in-depth analysis of Bitcoin's weekend performance and the potential for RIOT and MARA gap-ups on Monday! Follow us on TradingView for more insights. 📊
Bitcoin could get another leg up to $70, $75 or even $80k before taking the needed larger correction to sub-60k!
Riot masterplan for this cycleI think there is a 25% chance that we have seen the high of this cycle and a 75% chance that the 4-year cycle will play out like the last ones have (with BTC expected around October/November 2025). My plan is to sell my Riot holdings in 2025.
Good luck
RIOT Double Combo or another wave down?If it comes up from this point and this wave down isn't greater than the previous wave, I'm leaning towards the pullback being done. The W-A of W-(W) is questionable on counting and could easily see the first 3 waves being 5 waves instead. If that is the case, I'd lean towards another wave down. Either way, the correction is probably getting close to done.
RIOT: Time to wake up and get readyRIOT April breakdown has confirmed the intermediate wave 2 still intact. Good news is, price is likely making a major bottom. The bottom rectangle on the chart represents several technical support zones and if price comes down to this area, it will be a buy for me. We should at least expect a bounce from there. But if price doesn't hold in this area, then we have something else going on and the correction may turn out into a complete annihilation of this stock. Risk management is of the upmost importance once the toe is dipped.
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 callThe chart looks beautiful!
Bought April 19th $10 call for $2.82
CRYPTOCAP:BTC will be much higher by expiration.
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.
