RIOT trade ideas
RIOT great risk reward and technical setup See chart, Technical and fundamental analysis is 100% here. RIOT is 100%{/b} of my entire portfolio here :)
Should bounce here all the way up to 50+. If it breaks the trend, this can gap green QUICK. GLTA NASDAQ:RIOT
RIOT Bull put spreadRIOT Bull Put spread
37 sold 36 bought, 7 DTE, 25% ROI
Earnings isn't until May 17
BTCUSD 1h is sideways trend, testing 1h supply, broken downward momentum line, with a new RBR
RIOT Strong sell off into March 25 demand zone
1st touch was into proximal edge
2nd spike down yesterday could just be momentum continuation
Pullback into 5min buying zone, unconfirmed demand
Passively selling off on 5m chart today, almost touching the origin base 5m chart VPOC
5 min chart double top highs this morning makes me think there's more weakness above aggressiveness below.
It all depends on the current level at 43 actually holding with buyers stepping back in.
Short strike is 37 tucked into next demand zone down with an aggressive imbalance from Mar 9
I think the current demand zone at 43 plays defense for me and if buyers can reverse momentum and remove supply at 50 it'll be a great trade
If not, I've got the Mar 5th zone as backup defense.
With thanks to @ThetaTrades @alleytrader for the idea
RiotZoomed out veiw of what I am seeing here. Getting down to the nitty gritty to decide which way will we go!! Pattern is almost at apex
$RIOT. Saw a blockchain appear in scan. Thought that was cool.They sell crypto-mining computers.
I'm remembering when I wanted some affiliates to do crypto-mining with me back in 2017. The people I talked to thought I was being stupid, or I couldn't do it, or idk it's not really worth guessing.
How am I constantly talking to the wrong people? *He wonders while polling the public of tradingview*
RIOT - has a bullish setup to rally targeting at least $64The consolidation off the high made in February 2021 looks like a complete triangle structure.
Subwave E down overthrew the lower support but from time to time that happens.
The first target for this move up is 66.7% retracement (the Red Box).
$RIOT Target PTs 61-65-79 and higherBullish Pennant, continuation patterns
Riot Blockchain, Inc., together with its subsidiaries, focuses on cryptocurrency mining operation in North America. The company primarily focuses on bitcoin mining. As of December 31, 2020, it operated a fleet of 7,043 miners. The company was formerly known as Bioptix, Inc. and changed its name to Riot Blockchain, Inc. in October 2017. Riot Blockchain, Inc. was incorporated in 2000 and is based in Castle Rock, Colorado.
Closing: RIOT May 21st 25/30 Short Put Vertical... for a .45/contract debit.
Notes: Hit 50% take profit today. In for .91 (See Post Below), out for .45, .46 ($46) profit per contract, 11.2% ROC as a function of buying power effect. With earnings in 11 days, money, taking, running ... .
RiotLet’s see if it can hold above 42.10 area as new support !!! So far tapping 200 ema at 42.90 area
RiotSo a while back we were very bullish on riot being in a very bullish consolation. With the massive rejection at 62 getrinf stopped out of positions I had a new ide that it could turn into a descending traingle which is bearish although can still break bullish. After the wick to the bottom side shaking many people out, it could be flagging here making its may to retest descending resiatnce. It’s catching resiatnce on the 4hr 20 ema. The top of flag resistance is 42.15 if we can confirm support above here we could have a good move up. 47.12 would be breakout of triangle in my opinion so if you’d rather wait for that don’t blame ypou. I
RIOT - GETTING READY FOR A RALLYRIOT has been beaten down pretty bad and had a pullback as far as 33.30 area which was a -58% pullback! There's a major support at the 34.20 level which would've been a perfect entry but I think there's more room for this to move. We are also forming a ttm squeeze on the 4hr and it looks like it's setting up the same way it did when it had a pullback back in March 9th. It's hard to time a perfect entry but I think this is a good starter position in this level having that we've identified a good support level which can identify the risk and I've set targets for taking profit.
A couple catalyst to watch out for:
- April 28th-29th: Pres. Biden + Fed Chair. Powell speaking regarding the fed reserve policy as well as a follow up to the capital gain tax.
- May 17th: ER
Contract Suggestions:
RIOT 5/21 55C @ 1.57
or
RIOT 5/21 60C @ 1.07
Average down areas:
- $39 (gap fill area)
- $34 (major support)
Stop loss: Below 33.50
NASDAQ:RIOT
How to buy high and sell higher (applies to many stocks)After I started understanding and recognizing this pattern it has helped me to change my "buy low sell high" logic many of us have embedded into our habits. Buy low sell high is great but what about when we miss the initial move(s) ?? I have come to find that that does not always mean you are necessarily "missing out" ..
First of all, there should be a catalyst when see these big moves up in stocks and that's smart to identify. RIOT has had a catalyst in the form of it's margins and earnings growth as a result of bitcoin's rising value and as a result has entered a period of exponential growth. In my opinion, the best time to buy after a big move up like this is NOT the dip.
This is because if we are buying the initial dip going into staging area, we then have no confirmation of uptrend continuation (it is entirely possible for stock to plummet into distribution). It's also because after a dip there is going to be lots of buyers who entered at the prior high, many of which are trading with no game plan that will be watching their losses increase ready and happy to get out as soon as their losing position is at or near a break even price.
Many of these "dumb money" buyers who entered at the top will sell at/near their cost as the stock recovers from the dip and thus provide overhead supply which will push the price back down. Not to mention there will also be the buyers of the dip who may also be selling then too . The process will probably repeat multiple times before the next move up too , but with smaller moves up and down . Also , at some point the catalyst that is helping the stock move up will subside and the stock will eventually enter a distribution cycle .
To summarize , in my opinion, the best time to buy this kind of event is at the end of the basing periods just as the stock gives us a confirmation of uptrend by moving up with volume . Notice the volume reduces throughout this staging/basing period as the supply reduces and the weak holders are reduced . The volume is not always as evident as this particular chart and sometimes there will be more moves up and down as the stock contracts but as you may agree , the goal is not to buy low and sell high with this pattern .
It is to buy high and sell higher.
You can of-course buy the dip but at that point you don't have a confirmation that the stock wants to keep going up so you are reducing your possibility of success. In any case , don't omit your stop loss and respect a healthy risk/reward ratio .
To be clear , this is not just for RIOT, this is an entry method that can apply to many stocks ....
Good luck ~
RIOT - Bull PennantStill waiting for breakout... 😉
When RIOT does launch target is BLUE trend line.
Will Bitcoin finish downtrend over the weekend?
Good Luck
$RIOT warming up to shoot for new highsThe 2-month triangle could be in its final wave (e).
We don´t trade pure wave counts, so we´ll wait for some type of bullish price action (a decent break of the triangle) to get into a trade.
Breaking of 39.52 invalidates this count.
RIOT - cleared 1 descending trendline, 1 more to goRIOT broke out above this ugly trend line all crypto miners and BTC have been in these last few days.
Look for resistance at the next descending trendline.
Once that is broken, RIOT should have clear sky for BLUE upper trend line.
BTC has a large contribution to provide.
Fact check: please check all my Riot analysis..!I believe I did the best possible job in technical analysis in this stock!
if you don't believe check these..!
Do you think this level of accuracy is achieved by luck?
RIOT BounceRIOT has fallen to from the top of the descending triangle range to the bottom where it met support at 37. It is oversold on stochastics and the last time it was at that level on stochastics it bounced at the 37 level. I believe this will be a quick pop back up where it may meet moving average resistance around 45. Riot is still in a consolidation range and has reached the bottom of that range.
