Multi-Year Cup and Handle! Target $8000RIOT is looking really good right now. This beautiful cup and handle is about to resolve to a major run within the next 2 years to possibly $8000. I know it sounds extreme but the measured move of the cup on a log scale will bring it to approximately $7000-$8000. Hold onto your hats. Good luck everyone. This is not financial advice just my opinion, let me know what you think.
RIOT trade ideas
Riot Potential Second WindLooking at a strong entry point for a long trade on a second leg formed.
Looking for a price target of $30.
Signs of oversold conditions starting to appear on the RSI & MACD . Also seeing some divergence.
While I see pullbacks on BTC to $50k & ETH to possibly $32-3500, RIOT seems to suddenly making a breakout.
Could be profit taking and traders seeing higher profit % potential here in the meantime?
I'll bite. Let's see where this goes.
RIOT, be ready for the FOMORiot for whatever reason RIOT has been under performing. I think I have some clues but hard to confirm...
It is usually about at least 5 bucks higher than MARA as we know.
therefore:
since it is undervalued, and BTC is very likely getting to 60K, I would imagine the FOMO on RIOT is coming
Both RSi and MACD is up trend now from its under valued position, and this is the only the beginning
MARA is about 44, given the fact that fundamental is much better now since April for both MARA and RIOT, my target, and I suspect is 47USD if BTC reaches 60K.
Of course, the higher the better right?
Please like and comment, especially why RIOT is under performing, thanks
RIOT Potential Swing Setup (11/3/21)Time Frame: Daily Chart
Idea: Breakout
Factors to Consider:
- Crossover on the 9/21/50 EMA's
- Crypto Strength (Specifically BTC)
- Historical data over the last 12 months shows weak resistance in designated price zone (Highlighted Via Purple Rectangle)
- Volume & Open Interest heavily weighted on call options 2-3 Strikes OTM 11/19 Exp.
Note: Daily is currently overbought, pullback and consolidation for a better entry and trend continuation.
Huge Breakout on $RIOT Blockchain mo's long desc triangle breakRiot and Marathon Patent uses to trade neck and neck, shorts got in control and it is not half the Market Cap of MARA.
Both Miners reported numbers today and RIOTS were actually better than MARA's.
MARA and RIOT rallied 15% yesterday and the shorts thought they got lucky with the bitcoin flash crash on Fed Release that sent the stocks down 5%, but it quickly reversed and left them trapped as it rallied hard through resistance on high volume. As long as bitcoin stays where it is at they will be forced to close their +17M Share short positions.
RSI, MACD broke out and showing great strength.
OBV broke to a new high above tough resistance today.
If you like Bitcoin you'll love $RIOT$RIOT has seen some shit throughout the years, I'll spare you the details because they've settled it and now the future is looking bright.
As one of the only, if not only USA publicly traded Bitcoin mining operation out there you would be a fool to not build a position in this company. 2020 they have been ramping up production, and 2021 does not look any different - " Riot has 8,000 S19 Pros scheduled for delivery in equal installments over the first four months of 2021"
With all the news surrounding Microstrat, PayPal, Square, JPM, MassMutual, etc it appears the Bitcoin investment phase in infrastructure is just around the corner backed by some huge funds that want to secure/insure their Bitcoin holdings.
Buy any dips this thing gives us, cause this breakout is going to be HYUGE.
GL :)
(Riot analysis EW)(Riot analysis EW) - "PRIMARY" (1 & 2 & 3 ) complete and possibly 4 also aswell// One way we can show 3rd wave is complete is looking at the "MACD & RSI" showing the strongest momentum. The way we can tell if wave (4) correction is complete is if the (SELL TRIGGER) isn't broken and the (BUY TRIGGER) is broken and conservatively the (.618 Algo zone isnt rejected) . If the (SELL TRIGGER) is broken this is more likely a bigger (WXY) correction. But until then we will assume "Bullish" and have our triggers set. I will update this chart as it progresses.
Just scale down the MACD AND RSI if you would like to see the chart more : )
RectangleRectangles are neutral until a trendline is broken with a trend in that direction. A break to the upside would be 40.35 with and uptrend.
Mid Rectangle is 32.34.
No recommendation/You can get a guesstimate of how far this may go after breaking a trendline by taking the width of the channel and projecting it from the trendline.
RIOT--nearly 40% gains possibleBitcoin could hit ATH this week. A good week for bitcoin is a good week for mining companies. Loaded up on a few Friday, starting with Robinhood/Reddit fave RIOT. Eyeballed MARA as well but this one seemed to be not as bought up yet (while MARA is nearing ATH, but still probably a good play).
With RSI still under 50 on the daily, this ticker could be pushing 30s as soon as today.
This shit is just as volatile as crypto (obviously), so remember to bank some gains on the way up if we do indeed start to run up this week.
RIOT - Wyckoff Accumulation Complete - Signs of StrengthRiot has been lagging behind despite the massive pump on bitcoin.
Why? Well, most likely the price was being suppressed so big bags could accumulate more.
See the textbook Wyckoff accumulation pattern in the image.
You can see where the price was pushed down as it started to take off
Now we are at the signs of strength phase
I expect within a week or two to test the top edge of the wedge and most likely breakout to the upside along with new highs from bitcoin.