RIOT to $30Consolidation complete with rising BTC, this should bounce of right shoulder as support for invers H/S and run to $30
RIOTD trade ideas
Small Upside Head and Shoulders on the back of Huge Cup & HandleI've been following Riot for a couple of years. A cup and handle pattern has formed on the daily. It appears to me an upside-down head and shoulders have formed on the back of the handle. Maybe this is a squeeze before finally breaking resistance. Considering the halving event is coming in April, this could be a potential opportunity, or another swoop of profit taking which sends the stock through another grueling clawback. I'm watching resistance and the neckline for any indication. Bitcoin hit 62K. Can Riot follow or is this going to be a lagger in mining?
RIOT Lights the Path: Get In on the Buy Action Today!"## RIOT Stock: Short Fundamentals, Recent News, and Disclaimer
**Fundamentals:**
* **Riot Platforms Inc. (RIOT):** A Bitcoin mining company that utilizes immersion cooling technology.
* **Listed:** NASDAQ.
* **Market Cap:** ~$3.6 billion (as of Feb 27, 2024).
* **Business Model:** Generates revenue by mining Bitcoin and selling it on the open market.
* **Key Metrics:**
* Hashrate (computing power): ~4.9 exahashes per second (EH/s).
* Bitcoin holdings: ~13,352 BTC (as of Dec 31, 2023).
**Recent News:**
* **Feb 22, 2024:** Riot Platforms reports full-year 2023 financial results, highlighting increased Bitcoin production and hashrate growth.
* **Feb 5, 2024:** Company announces January 2024 production and operational updates, including exceeding monthly Bitcoin production targets.
* **Jan 4, 2024:** Riot Platforms enters into a strategic partnership with Compass Mining for immersion cooling technology deployment.
**Disclaimer:**
* This information is for educational purposes only and should not be considered financial advice.
* The cryptocurrency and stock markets are highly volatile and carry significant risks.
* Do your own research before making any investment decisions.
**Additional Notes:**
* RIOT stock price is heavily influenced by the price of Bitcoin and broader market trends.
* The recent news highlights the company's growth in mining capacity and production.
* It's important to understand the risks involved in investing in volatile assets like RIOT stock.
I hope this information is helpful! Please let me know if you have any other questions.
Riot Blockchain Achieves Record Revenue of $281 Million in 2023Riot Blockchain ( NASDAQ:RIOT ), a leading Bitcoin mining and data center hosting firm, has reported record-breaking total revenue of $280.7 million for the year 2023. This impressive milestone underscores Riot's resilience and strategic growth initiatives amidst a dynamic cryptocurrency landscape. With a surge in Bitcoin production and a commitment to expanding hash rate capacity, Riot continues to solidify its position as a key player in the Bitcoin mining industry.
Record Revenue and Bitcoin Production:
Riot's total revenue surged by 8% from $259.2 million in 2022 to $280.7 million in 2023, driven primarily by Bitcoin mining revenue, which accounted for $189 million. Despite challenges such as increased expenses and higher power costs, Riot managed to increase its Bitcoin production by 19%, producing a remarkable 6,626 BTC in 2023. This achievement is particularly notable considering Riot's strategic efforts to curtail power usage during peak energy demand periods.
Strategic Expansion Plans and Hash Rate Growth:
In line with its growth trajectory, Riot ( NASDAQ:RIOT ) increased its hash rate capacity by an impressive 28% in 2023, reaching a record 12.4 EH/s by December 31st. Looking ahead, the company aims to bring additional capacity online at its new Corsicana facility in Texas throughout 2024. CEO Jason Les emphasizes Riot's ambitious targets to further expand its hash rate capacity, with aims to reach 28 EH/s by the end of 2024 and ultimately surpass 100 EH/s in the future.
Financial Strength and Balance Sheet Enhancement:
Despite incurring a net loss of $49.5 million in 2023, primarily due to higher expenses, Riot maintains a robust balance sheet with approximately $597 million in cash and 7,362 Bitcoin, valued at approximately $311 million based on year-end Bitcoin prices. The company's prudent financial management and strategic investments position it for sustained growth and resilience in the cryptocurrency market.
RIOT RUNS ON BITCOIN LONGRIOT is shown on a 15 minute chart over the past 7 trading sessions showing 3 trends up
then with intermittent consolidation then a trend dow. The trend down is the most
important. Given the strength shown on the indicator demonstrating bullish divvergence
I believe that RIOT is now set up for a pullback entry long either shares or options at this time.
Let me know if you need trade specifics for either. See my other ideas for BTCUSD, MSTR,
HUT, BITF and the rest. COIN is also worth a look as an earnings play. Buyer note- any of
these could go into short squeeze if a decent upside price action sets things in momentum.
RIOT Buy the Bitcoin Pullback? LONGIOT on the 30 minute chart has pulled back 35% from its end-of-the-year high when Bitcoin made
a bullish move. Bitcoin has settled down and RIOT has followed that trend down. the MACD
lines are above zero while the RSI lines have settled in deep oversold territory. I see this as
a good entry for a long position with at least 50% upside and much money if taking
call options. As to the latter, I would look for a Juen expiration at a strike just below the
POC line of the volume profile which is confluent with the mean long-term VWAP. My goal is
a 500% return. The OTM call options are cheap enough to take several and then take
partial profits each time Bitcoin reaches a pivot high over the interval and maybe pick up
another when a it finds a pivot low.
RIOT: Bull and Bear ideasRIOT has made a V recovery once again, making the bear case almost obsolete. The primary and secondary trendline resistance has been successfully broken and right on the third trendline resistance at the moment. Let's look at bull and bear case and see when to enter the rocket to the moon.
Bull case:
If this is the beginnings of intermediate wave 3, then the current price action is at the start of Minute degree wave 1. We should see a higher high above December high and then a correction. The correction or Minute degree wave 2 cannot break below $8.61. After that we should see the strongest part of the rally which will be a wave 3 of 3 of 3. Ideally, after a higher low is confirmed, entry point would be above the previous higher high. We are looking at triple digit numbers, so it is OK to wait until we see a solid support above $19.
Bear case:
Bear case would still suggest intermediate wave 2 is still in effect. The correction just got a whole lot more complex. The current price action could be part of a B wave triangle where a C wave is still in the books, or it could be part of a larger Y wave that will take things down back to previous lows. At this point these two scenarios cannot be written off. Need to let some more time pass before the bear case can be completely thrown out.
We should see a correction of the current runup in the next week or two. How that plays out will confirm which way is right. Ideally, a higher low and higher high on weekly will provide confidence on bull side.
RIOT: Potential Breakout or Bull Trap? Don't Chase Rainbows: RIOT's Inverse Head and Shoulders - Opportunity or Illusion?
RIOT's chart shows an interesting development with a potential inverse head and shoulders pattern. Based on technical analysis, this pattern could indicate a move towards $38. However, remember that the crypto market is volatile and reaching this target is not guaranteed.
RIOTAnother Bitcoin associated runner that likely continues to ascend as long as BTC is in bull market.
If can break above 17 looks ready for a run at 22 resistance, after which it may consolidate before running higher to mid of the whole move (~$40) sometime around the halving event in April this year.
$RIOT - week of 2/12/24Short-term bullish on $RIOT. Dependent on BTC action and market conditions.
Looking for a hold over 14. Ideally, a retest of the ~14-14.25 range intraday
Would target 2/23, 15c or 16c. I expect some chop and/or an inside day in the beginning of the week, so want to buy some time. May even look at March cons.
TP1 @ 14.79
TP2 @ 16
TP3 runners @ 17
Recent uptrend continuation with volume, weekly bounced with strength off the TL
Strength in RSI
Daily and Weekly above all EMAs. Weekly just broke through 200ema with strength last week
9d & 20d EMA's crossed up above 200, working to continue upwards
BTC over 48k during this write up
#RIOT Blockchain 3 levels of resistance to overcomeWhich I think it will slice through!
#Bitcoin miners tend to follow big technical patterns really well.
From the top you can see the massive bear flag that lasted pretty much all of 2021
all whist in the bitcoin bull market and non conforming disappointing price action
the secondary bear flag in 2022 that led to a precipitous drop
and now there is a potential,
if we get strong rally to the $20 area ...
we could form a very large inverse head and shoulders!
Looks promising.
RIOT Inverse Head and Shoulders EngageWell it took long than I expected for RIOT to really run, but it is finally happening! NASDAQ:RIOT
$RIOT targets long-termHello folks,
the bottom seems in. My short term target 30+,
long term in 2025 or later we can easily reach 100+
Have fun and NFA
RIOTTechnical Analysis of the next weeks for RIOT based on Elliot Wave Theory.
Currently in the bigger 3rd Wave.
No Financial Advice.
Crypto Stocks Ready to FLY?!Big boy liquidity has been building up at current support levels for crypto related stocks.
From these regions, Price can absolutely fly, or die haha.
The risk to reward to start averaging with very high probable buy positions is $6.50 (prime entry region) to current levels around $11 region
Liquidity shows all of the potential at these levels. The rewards can be extremely handsome =)
RIOT Ready for a BOUNCE here!! Ideas should be simple and visible
- Riot Bounces here or breaks the channel
- Options chain shows BULLS are coming back
RIOT: Choppy action upwards. Brace for impact!The bounce upward this week is looking choppy and corrective, keeping the bearish count alive. If this path continues next week, we should see heavy resistance between $12 and $13. The leg down afterwards should be the last leg on this downside, and we should see the entire crypto market come alive with intense impulsive drive when that is done. Right now, if we see a break above $ 13.75 and a sustained price action above $10, then things might start to look more bullish. Until that happens, shorting the resistance area would be the next play.
$RIOT a mining companyRiot Platforms Inc is a bitcoin mining company. Its stock price positively correlated with bitcoin price. When bitcoin is up miners sell less btc to support operations. Therefore, they get to keep more btc in their balance sheet.
Riot BullishRiot Bullish
I am not a financial advisor. This is not meant to be and does not constitute financial, investment, trading, or any other types of advice or recommendation.
RIOT elliot waveRiot is trading in a picture perfect elliot wave. Has a few gaps to fill below and should finish off the correction phase.
RIOT: Bounce incomingRIOT is going through a major rout right now. It has fallen much harder compared to BTC. At this point we should see at least a relief rally for both. Current price action looks like a larger wave C is playing out. However, we cannot completely discount the bullish case. The way to identify would be the pace and strength of the next move. If we see a choppy wave 4 type of price action, then the expected wave 5 to around $7.5 area should play out in the next few weeks. If we see a very sharp reversal the takes price above $13.75, then something else is going on and will need to switch to the bullish count. In either case, a buy signal should present itself in the coming weeks.
Riot wait buy and waitRiot a share in every crypto portfolio. I am assuming an entry period of the next 4 weeks. Compared to many short fans who see Bitcoin in further depth, I am firmly convinced that we have been in the bull market since September, exceeding USD 25,000, and that the market will not allow a major price decline. I'm betting on Riot in this crypto bull market. I am pursuing the entry target of a bullish Gartley, and the first targets have been chosen accordingly. Wait, get in, wait and get out.
Good luck and success
