RIOT trade ideas
Bullish on $RIOT after 9/3 earningsBroke out of descending resistance, but held historic support line. Very simple but bullish pattern, has proved buying pressure at supply zone and denied downward trend. BTC price action and upcoming earnings should prove to be a worthy catalyst for a run toward $48, at 0.5 retracement of it's initial rally.
Riot Blockchain Bounces at the 200-day SMACryptocurrencies like Bitcoin and Ethereum are climbing. Meanwhile, related equities like Riot Blockchain have barely moved.
The main feature on this chart is the rising 200-day simple moving average (SMA) – perhaps the most popular long-term trend indicator. RIOT touched that line yesterday and is bouncing today.
Next, notice how the 50-day SMA has come down to approach the 200-day SMA, but never crossed below it.
Third, consider how RIOT’s 8- exponential moving average (EMA) has remained above its 21-day EMA.
Finally, notice how stochastics recently hit an oversold level.
Overall, RIOT is a volatile and fast-moving stock. However, fluctuations have calmed in the last three months and prices are now tightening into a range at a key long-term support line. (The shares have also barely moved in the last month, relative to Bitcoin’s surge.) It could offer equity investors a means to participate in the cryptocurrency markets.
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$RIOT Analysis & Key levels$RIOT Key levels
I have WAY too many positions to be able to update on … So I’m just going to start posting the most recent support levels…
Red = Key levels
Green = resistance
Blue = trendiness
If you’re holding ONLY add at key levels. It is never wise to catch a falling knife without a plan.
Here I’m keeping an eye on that blue trendline that is just a little below here…
riot w3 swingfollow up post to my last prediction (view it at the bottom of this text)
catch riot at $29, and ride it all the way up to $69
could hold it longer if you'd like, to around $200+
my trade though, is a shorter term trade to cash in on this upward volatility.
crypto miners will outperform ever asset class combined in the stonk market
position yourself accordingly ~
There's a riot coming... Short Squeeze on RIOTWith a Short Interest of 26% and an active attempt to squeeze the shorts it looks like RIOT could see a volatile move upwards supported by reasonable fundamentals, Bitcoins recent price action, and technical indicators that suggest a reversal.
Setting up to break out of a descending channel/wedge.
F-Score is a 5 with some indication the books may be cooked so this likely isn't a buy & hold.
Price target & stop loss recommendation put this at a 6:1 risk to reward ratio.
Timeline is days to weeks. Watch for a position Monday morning around 10:30am.
Bullish CypherI see conflicting dates on when the Earning announcement is due. ON here it says today. On Earnings Whisper is says the 16th of this month AMC. Some sites say not confirmed.
Riot is moving and has just about met targets 1.
Cypher is recognizable by peak 2 being higher than peak 1. The last leg should land close to the 0.786 of XC. Possible stop under D or last pivot low.
No recommendation
$RIOT Target 45.70 for 51.27% $RIOT Target 45.70 for 51.27%
Or next add at 30.47
We've gotta push through the resistance here... Let's go...
I did not add here...
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
ONLY ADD at support levels & FIB levels… labeled
I start every position with .5 - 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
After Big Push Up and Earnings Inflation, Time to Sell RIOT?In institutionalized markets, we often see patterns of up and down, up and down, verses more free markets, in which we see large bull trends followed by disastrous bear trends for some. The more popular the asset, the more swings we often see, as people play a tug of war to win Bull or Bear.
As you can see in this long-term Daily Chart, RIOT has had two weeks of a solid uptrend, followed by slight sell-off, and consolidation near the top. The bottom lies around the golden figure of $22 USD.
In the shorter-term to medium-term charts, I see little room to move up on the top, with Bitcoin once again reaching resistance at $41,000, and massive downside potential. For the monthly chart, we are at a monthly high. Warren Buffet would recommend to sell the overbought monthly high for a weekly profit.
Technical indicators show we are overbought, and due for a slight-to-moderate correction. For the yearly, we are still in a downtrend for both RIOT and BTC, with highs far, far away.
The push up in RIOT is likely due to its earnings coming out in two days. Days before earnings arrive, the stock anticipates positive or negative earnings, and rises unexpectedly. Most of the price action commonly occurs before, not after earnings come out.
Don't buy the hype. Markets feel ebullient, with SPY at all time highs, making a 38% gain in 1 year, but much of the country is truthfully in a depression. Banks just lowered interest rates again, making savings accounts useless. Many other modern countries having savings with a rate of 8%, more than the typical gain per stock market year. US will have a harder and harder time existing on trillions of debt and even Bitcoin and cryptocurrencies can't save the monster of debt US is lugging around behind its warguns.
For myself, I'd rather sell resistance, and buy major support.
Ask yourself, too: what is a bit of coin? What is a bit of money to you? A bit of coin to Bank of America is $10 for quarters. That is the maximum amount of coin they will give you.
Now think about a billionaire's motive: what is a bit of coin to him? This man has never had to live paycheck to paycheck, does not know the real value of money. To a billionaire, a bit of coin is $100,000. To a multi-millionaire, they often spend $50,000/month on housing and other expenses. At least, that's what I've seen with my own eyes, with real people millionaires.
If Bitcoin continues to go up, its ultimate DARK SIDE comes out. It will have the capacity to inflate all assets. In my city, food prices have doubled in many restaurants since BTC reached 60k. Apartment prices have gone up at least 10%. Many people want higher Bitcoin, but it may destroy USA. USA is known for little inflation and fair prices to be united. You have to be a citizen first, and Gordon Gecko of greed second.
Reminder: Always do your own analysis.
Riot Blockchain Breaks the 50-day SMABitcoin miner Riot Blockchain has been skidding lower since February, but now it could be ready to move again.
The main feature on its chart is its jump above the 50-day simple moving average (SMA) on July 26. It’s formed a tight consolidation pattern above the line since. The current action differs from a moment like early July, when it failed to hold above that line.
Next, RIOT’s 8-day exponential moving average (EMA) just crossed above the 21-day EMA.
Third, prices recently tested and held the 200-day SMA.
The other question for RIOT is obviously your outlook for Bitcoin, which just had its biggest two-week gain since March. It’s now making higher lows as it consolidates around $40,000. If prices continue higher from here, RIOT could break its five-month downtrend and head back toward their 2021 highs.
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Riot ideaWithout the inclusion of btc interference $Riot is possibly in a wxy pattern depending on if it stays below the fib on the possibly forming triangle this should come down to the 0.5 fib on the macro scale but it will take time but depends on it keeping the rejection at the 0.618 on the micro if not it could form just a lil higher zig zag abc and then head down and possibly forming an bearish expanding flat but could also just form another zig zag down but I put it cause I know riot is pretty volatile
As always good luck trading ; )