RIOT trade ideas
$RIOT about to play catch up to the upside?NASDAQ:RIOT has been consolidating in a bottoming wedge and looks set to break out.
I think we see a very sharp move to the $18 resistance as RIOT has serious catching up to do. I think RIOT and HUT will be the most bullish two miners for this next move up.
After hitting $18, we should see some consolidation before the next big move higher.
Not sure if we get into the $100s or not, but will update the chart as the move plays out.
RIOT: Buy back the next dip?RIOT pump along with overall crypto and general markets post-election, most likely completed full 5 waves sequence. There is a chance price can move a bit higher. Following this move, a correction is most likely get introduced by FOMC meeting. I will be waiting for a 3 waves move down to get back on this train for a larger wave 3 or C.
RIOTgreat falling wedge pattern will be exploded and wave (wxy) is ended
wait correction then enter with wave 3
enter point 9.80$ stop loss 6.20$ target from 17.16-17.25$
second target 19.73$ to 19.83$
RIOT: moving stop loss upRIOT is at a spot where only a 3 waves sequence has completed. If abc move is the end of this sequence, then there is no reason for holding on at the moment. But in case a wave 5 is due, we might still be in for some good size gains. So, instead of completely getting out, I have taken profit at wave 3 and now have moved the stop loss up right below Thursday low. The whole thing can be part of a larger ABC pattern or if we have a full 5 waves up, then it might be start of a much larger wave 3 sequence. So, I will try to keep some skin in the game. Leave a bit that I can afford to lose completely and not lose any sleep over it...
RIOT - short position on 1h time framehi traders
let's have a look at RIOT on 1h time frame.
The price is at the upsloping resistance of the channel.
This short position on RIOT is based on a bearish divergence with the RSI. Enter short at the resistance now.
Take profit/ target: at the horizontal support (orange line),
stop loss: 10,75.
Bullish RiotAfter a period of price consolidation within the triangle, a breakout has occurred, putting the bulls in control. Bitcoin has risen, and as anticipated, Riot is likely to see a significant upward move.
N/b just a speculative analysis. Kindly like if you agree. Thanks
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 10usd strike price Calls with
an expiration date of 2024-11-1,
for a premium of approximately $0.40.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
RIOT: bullish count as long as 5 waves completesRIOT is chugging along since the low made in September. As BTC is holding major support areas, RIOT is getting the tailwind it needs to move forward. The price action looks bullish; but we have not seen a full 5 wave sequence. We need to see a few more higher highs and higher lows and get close or above $13 resistance level to have some kind of confidence that bull cycle has started. Keeping in line with BTC, after the minute degree wave 1 is complete, the whole market will plunge into a correction for a few months. That will be a true test of this bull market. If price can hold above $8 support, then sky will be the limit once we get out to the other side of correction....
If price breaks below $8.52 now, then this count is invalid. We might see a larger leading diagonal or a deeper correction might still be intact for intermediate 2.
RIOT Platforms Bullish Rally Hits All Targets! Trade CompleteTechnical Analysis: Riot Platforms – 15-Minute Timeframe (Long Trade)
Riot Platforms executed a strong bullish move, hitting all profit targets after a long entry at 8.04. The trade has now concluded successfully, with all targets achieved.
Key Levels
Entry: 8.04 – The long trade was initiated after identifying bullish signals.
Stop-Loss (SL): 7.83 – Positioned below key support to manage risk.
Take Profit 1 (TP1): 8.30 – Hit early in the trade, confirming initial upward momentum.
Take Profit 2 (TP2): 8.72 – Continued buying pressure drove the price to this level.
Take Profit 3 (TP3): 9.14 – The strong uptrend pushed the price to this target.
Take Profit 4 (TP4): 9.40 – The final target has been successfully reached, concluding the trade.
Trend Analysis
The price stayed well above the Risological Dotted trendline, confirming a sustained uptrend. Riot Platforms showed clear bullish momentum throughout the trade, hitting each profit target in sequence.
The long trade on Riot Platforms was highly successful, achieving all targets, with the final target of 9.40 marking the end of the trade. This showcases the effectiveness of identifying strong upward trends.
$RIOT * WEEKLY TF EWP FIB TC ANALYSIS Let’s break down the potential Elliott Wave scenarios that may unfold, along with alternative possibilities. I’ll review the key details of the chart I provided:
Primary Scenario: Completion of Corrective Wave
Wave Count:
• It appears that RIOT has completed a large corrective (A)-(B)-(C) wave.
• The (A) wave bottomed around early 2020, and the (B) wave rallied to an extreme high around mid-2021.
• The ongoing (C) wave has been pushing lower and is now potentially near completion, suggesting that the bottom could be forming soon.
Key Fibonacci Levels:
• The price is close to the 0.618 Fibonacci retracement level, which typically acts as a major reversal zone in corrective waves.
• There’s also a Fibonacci cluster indicating confluence between the 0.618 and 0.786 retracement zones around $6-$7. This increases the likelihood of a reversal if the price holds at this level.
Confirmation of Trend Reversal:
• For this scenario to play out, we would expect a five-wave impulsive structure upward to begin. This would be Wave 1 of a new bullish cycle. The key confirmation would come if RIOT breaks above the downward channel resistance with strong volume and follows through with higher highs and higher lows.
Alternative Scenario: Extended Correction (Complex Correction)
Possibility of an (X) Wave or Further Downside:
• In some cases, after an (A)-(B)-(C) correction, a complex structure could unfold, resulting in an (X) wave and then another corrective pattern (Y).
• This would imply that RIOT could consolidate further or possibly make another low before finally reversing. The chart does suggest this possibility due to the large downward channel still being intact.
Deeper Fibonacci Levels:
• If the price fails to hold around the current levels, the next key Fibonacci level around the 0.786 retracement (around $3.25-$4.00) could be targeted. This might be the level where the final capitulation occurs before a reversal.
Wave Count Indicators:
• Wave 1 Upward: If the bottom is in, we could see the start of a wave 1 upwards, which should follow an impulsive five-wave structure. This would be a strong indicator that the correction has ended.
• RSI: A bullish divergence on the RSI, where the price makes lower lows but the RSI makes higher lows, would be a strong confirmation of a reversal. Keep an eye on this divergence in shorter time frames (e.g., weekly or daily charts).
• Break of Downward Channel: Watch for a break of the upper boundary of the downward channel. This break should be accompanied by a surge in volume and a higher low formation, marking the shift in trend.
Conclusion:
The primary wave count suggests the potential for a bottom forming, particularly around the current support zones near $6-$7. However, in the alternative scenario, a more complex correction could push the price lower to retest the next Fibonacci level, possibly in the $3.25-$4.00 range. Confirmation of a new bullish wave will require a strong impulsive move upward, breaking the channel and solidifying the new trend.
RIOT: Is it time to buy now?RIOT has made into my very long-awaited target of $6.5 entry point and went beyond it by a little. This technically marks the end of intermediate degree wave 2. The move following the low has been steady but not extremely strong. For a wave 3, I would have liked to see a very strong and convincing V bottom recovery, but it has been a bit choppy. In the coming weeks if price picks up steam and starts to make some headways, then my confidence level will come back.
Indicators are looking fairly good. Want to see MACD cross over the 0 line and start getting some wider read on the histogram. Want to see Stochastics to keep snaking around on the top third of the chart and not fall back in below 60 read.
EW count might have completed a very preliminary 1/2, 1/2 and ready for a 3 of 3 at a minuette degree. We should start to see more prominent green bars to confirm this.
I had a very old order filled at $6.5, so I am in it now. But, I would prefer to double or triple up after I see a full 5 waves sequence. Also want to see a break above the midrange of the channel and then a retrace to test it. At the moment my stops will rise below the last low as higher lows are formed. Right now, do not want to see a break below $6.94.
Bullish Gartley Harmonic - 29$ targetPerfect Bullish Gartley Harmonic formed on RIOT. The target for this trade is 29$
I'm hopeful the stock goes much higher, but for now, this technical set up caps out at 29$
$RIOT is finally done with consolidatingToday we will speak about this gem NASDAQ:RIOT
Chart been consolidating below $10 for a while, breaking out of the accumulation range will send the stock to $18-$24
My gut feeling is higher, but we will viist the chart again once we hit first target
RIOT: Second ChanceThe miners have had an absolute face ripper rally over the last few months pending an ETF approval, which was finally received. Perhaps not as well as some may have thought.
Due to popular request I have created some zones for where I believe RIOT will likely pullback to after a nice impulse move.
Now RIOT is a bit different from MARA in the case that the .618 retracement has already been reached at $9, which was over a 50% move from the top.
Instead, I have marked our ranges for both these moves in Orange (top and bottom) , as well as the range points of control which are marked in Blue.
For those who may not be familiar, a "Range Point of Control" is where the majority of the liquidity sits. Hence it will likely be the strongest support, or resistance.
This is why RIOT is currently being pulled back into the liquidity zone of the range point of control just below $11, although I don't particularly believe that area will offer us much support. If it does, there likely wont be much upside hence the risk reward wont make much sense.
I do believe we may potentially break below this level as the Value Area Low of the range sits at $8.50.
If we break below there, then we will look towards the previous Value Area High and Point of Control which sit between $6.50 and $7.50.
I would consider accumulating RIOT from $7 - $9. The lowest I would really expect is $6.50, and if it reaches this zone, please do not panic as I think it is a quick buying opportunity that wont last too long.
Good Luck!
Lets start a RIOTPreviously known as Riot Blockchain, Riot Platforms is at the forefront of BTC miners and is highly poised to benefit from the imminent cryto rally generally expected to occur between late 2024 through 2025. BTC has been tipped to touch the very lucrative six digits milestone during this coming crypto cycle and all crypto related stocks have been tipped to follow suit.
RIOT faces fierce competition from other crypto related stock ( NASDAQ:MSTR NASDAQ:MARA NASDAQ:COIN NASDAQ:CLSK ), along with the newly approved BTC ETFs this time around but despite all that and its recents market struggles, i think we are headed for a possible 6X to 10X return from these current levels within the next 6-12 months.
I personally hold both NASDAQ:RIOT and NASDAQ:MARA in my investment portfolio and will be covering them both on the weekly as there are already many people covering these stocks on the daily. In my expereince, MARA tends to generate the most hype and volatility within the crypto miners and usually leads while RIOT catches up in terms of price and market cap. To me these two acted as "duo" during the previous hype rally and I expect them to behave the same again. RIOTs chart isn't as clean on the weekly, but we are near a very key support area for accumulation, but I am not worried about this stock's future one bit!
What does the future hold for Crypto Mining?I have chosen RIOT as the chart, but I am looking at MARA and also BITF. But as a whole, looking at the WGMI (Valkyrie Bitcoin Miners ETF), BTC mining companies as a whole is taking a hit. Crypto itself is taking a huge hit and of course, this affects Crypto Mining. It did seem that Crypto was going to push higher as the expectations for the BTC ETF release was going to be the first part of pushing BTC to the "moon" and with the BTC halving, money would just start stacking for holders. But that didn't happen. There is a decent amount of geo political turmoil going on. Governments selling BTC. SEC doing what it can to get Crypto labeled as securities in order to bring the coins to its realm of oversight. The Yen carry trade unwinding. The potential of a recession.
But there is the other side, where there is good news going on for BTC. The possibility of BTC becoming a reserve asset. The upcoming elections, with a a lot of fingers pointing at former President Donald Trump being very pro Crypto. But even if Kamala Harris (pointed in ALTCOIN daily), says that she is in support of crypto, then that will be a good push for Crypto to move higher. There is also the FED reducing rates towards the end of September; with the recent NFP coming out lower than expected and pushing the chances for a reduction in rates for 50 basis points to 50%.
So if the self fulling prophecy for BTC hitting $100k - $150k do come true, then Crypto Miners are going to be cooking. Projects are already underway and the Crypto Market has been very resilent. There are those that thought Crypto was going to collapse during the silk road incident. Then after the cash in 2017 when BTC hit $20k. Then the Terra Luna incident. FTX collapse. Mt. Gox incident. And many others. Yet Crypto is still here.
The main issue I think is where all the money is pilling into, and during 2017, crypto was starting to hit the mainstream and a lot of coverage was on it. Institutions finally starting trading BTC and others, as well a lot of retail traders and investors were pilling in. In 2021, people were staying home, receiving check after check of stimulus, wondering were to put it. Then when things started opening up, businesses were offering sign up bonuses. Afterwards, during both these events, once Crypto hit a certain lvl, a ton of people cashed out and instantly became very rich. This money flowed into other products, such as wants and/or other ventures/markets. Now money is flowing into different meme coins, AI, FAANG-M stocks, among other things.
If BTC is able to push higher and hit the around $120k, then MARA, holding around 13,677 BTC will be worth around $1.65 billion, RIOT with a holding of around 7,250, will be around $870 million, and BITF, with holdings of around $1,016, would be around $121 million (which RIOT is attempting a takeover of BITF, offering a buyout of BITF, which BITF did not accept. If this does happen, RIOT would become a very strong competitor to MARA, pushing its exahash production from 12.6 to 19.6. MARA has an exahash of 29.9).
For the price targets, if things go accordingly, MARA will likely be able to break out of the $20 resistance, avoiding the completion of the inverse cup and handle pattern. If this pattern forms, price will likely keep pushing lower, potentially to around the $8 lvl (at least breaking the $10). For RIOT and BITF, they have the same pattern as MARA, and WGMI price is in a monthly rising channel, so there is a strong possibility that price will drop, but if things go accordingly, then prices on these companies will also avoid the acceptance of the inverse cup and handle pattern. The psychological lvls for these two companies are $10 and $2, which could be hit depending on how things go these next few months.
I am in a position on RIOT and a few on BITF, my positions are at a small loss, but I am selling covered calls and cash secured puts to offset the loss, which, when factored in, puts me at a net positive. Additionally, I am participating in the stock lending program, which is further offsetting my losses. I am on the side that price will push higher and I am willing to see it through.
Protect your inventory (your capital), and have some great trading out there.
is it time for RIOT?previous impulse broke structure (BOS) and retraced to golden zone in an order block.
from there it made smaller impulse that changed character (CHOCH) and is currently retracing to its golden zone in an order block.
both Elliott Wave and SMC tell me it could be a good time to take the risk on RIOT.
RIOT: One last step down before rocket to the moon or crash?At this moment RIOT looks to be completing 5th wave of wave C. The price might come down to the volume node from last year's consolidation. During this long BTC consolidation, RIOT and other miners have suffered a brutal downtrend. The long downward consolidation has tested the fundamental strength of the company. RIOT is probably the only one that has very little debt, good amount of cash in hand and except Q2 earning, a good history of constant earnings growth. At the moment I don't believe there is any plan for additional share dilution. So, many things are pointing towards a trend shift. I am in no rush to buy in at the moment. After a huge consolidation like this, it is likely the uptrend will start out slow; maybe in some kind of a leading diagonal. I have no intention to get caught on that. When I see a solid 5 waves up and three waves down, I will start dipping my toes. It might still take some time to get going. If price crashes below $5, then it's game over!
$RIOT Following #BITCOINanyone that follows mining stocks know, when #BTC runs, they run.
Daily id expect return to $10 (one week time frame)
Weekly (September) expecting $15-20
#RIOT #MARA
Riot vs. M2 Supply: An Explosive Prelude?NASDAQ:RIOT
The money supply M2 has always been the primary market driver for RIOT, just as it has been for BTC. Every dip in the total M2 supply has corresponded with a bottom for NASDAQ:RIOT as well. Will it be the same in the coming months? M2 is at an all-time high, but RIOT seems (like the rest of the crypto sector) to be decoupled in these initial phases. I expect the correlation to regain strength as M2 continues its ascent.
