BULL diamond on Bitcoin!BULLISH DIAMOND ON BITCOIN.
After 12 PM Close I'm bullish long Calls 10.50 may 3rd to may 17th. Let's go!
This is not a recommendation though.
RIOT trade ideas
RIOT BLOCKCHAIN BACK TO $18Riot blockchain was able to post a great Q1 earnings report which is bullish for the stock. It has currently printed what I believe to be an inverted H&S on the daily timeframe.
Riot forming a wedge pattern as Bitcoin double bottomsriot wedge as bitcoin double bottoms!"Riot forming a wedge pattern as Bitcoin double bottoms. The wedge suggests a bullish breakout towards $11 and beyond."
RIOT: Perhaps a consolidation will form.Perhaps a consolidation will form with a greater probability of breaking upward. The growth driver could be the advertising of spot Bitcoin ETFs.
$RIOT, more downside before upside?I know everyone is bullish BTC and miners here, but the charts still don't look great even after the bounce.
I think what's most likely from here is that we sweep the lows before getting a sustained trend higher.
We're rejecting off resistance here at $12. I think this is likely to lead to a strong move to the downside. We have a ton of gaps to fill from the move up, and supports haven't been retested from the initial leg up in February.
Most likely scenario is to find support in that $6.69- $7 region and then I think we'll likely see a positive reaction after earnings next week.
Lots of risk over the coming days IMO. Bid lower supports and then we'll see how high we can go to the upside after.
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 15usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $2.98.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Gemini AI Analysis of RIOT (Riot Platforms) Stock (Bottoming)
Based on the provided chart and technical indicators, here's an analysis of Riot Platforms, Inc. (RIOT) and its potential forward outlook:
Trend Considerations:
Long-Term Downtrend: The price has been in a long-term downtrend since late 2021, evidenced by the consistent lower highs and lower lows. The descending trendline confirms this downward trajectory.
Recent Consolidation : The price seems to be consolidating within a range recently, indicating a potential pause in the downtrend.
Momentum Indicators:
RSI (Relative Strength Index): The RSI is currently around 28, which is near the oversold region (below 30). This suggests that the downward momentum might be weakening and a potential rebound or consolidation could occur.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line and both are negative, indicating bearish momentum. However, the histogram bars are decreasing in size, which could be a sign of weakening bearish momentum.
Other Observations:
JP Macro Trend Dynamics : This indicator shows a mix of green and red bars with no clear trend, suggesting uncertainty in the market sentiment towards RIOT.
Heikin Ashi Candles: The Heikin Ashi candles are predominantly red, confirming the overall bearish trend. However, there are some recent instances of green candles, hinting at potential buying pressure.
Support and Resistance : The $10 level appears to be acting as resistance, while the $8.50 area might be providing some support.
Forward Outlook:
The technical indicators suggest a mixed outlook for RIOT.
While the long-term trend remains bearish, there are some signs of weakening downward momentum and potential consolidation .
Possible Scenarios:
Continuation of Downtrend: If the price breaks below the recent support around $8.50, it could signal a continuation of the downtrend, potentially reaching lower levels.
Rebound or Consolidation: If the price manages to hold above the support and the RSI moves out of the oversold region, we could see a rebound or a period of consolidation within a range.
Trend Reversal: A break above the resistance at $10 with increasing volume and confirmation from other indicators could signify a potential trend reversal and a shift towards a bullish outlook.
Additional Factors to Consider:
Overall Market Conditions: The performance of the broader cryptocurrency market and Bitcoin, in particular, will significantly influence RIOT's price movements.
Company-Specific News and Events: News related to Riot Platforms, such as earnings reports, expansion plans, or regulatory developments, could impact investor sentiment and the stock price.
It's important to note that technical analysis is not a foolproof method for predicting future price movements. It should be used in conjunction with other forms of analysis and a comprehensive understanding of the underlying asset and market conditions.
RIOT strongly go up!RIOT strongly go up!:
-Morning star candle pattern.
-Key level support.
-Trendline support.
-Demand zone support.
RIOT is about to fill the gapRIOT is about to fill the gap either today or tomorrow.
I published the same idea on miners previously, from there the stock was up around 30%
BTC, RIOT, MARA and More...Catch our in-depth analysis of Bitcoin's weekend performance and the potential for RIOT and MARA gap-ups on Monday! Follow us on TradingView for more insights. 📊
Bitcoin could get another leg up to $70, $75 or even $80k before taking the needed larger correction to sub-60k!
Riot masterplan for this cycleI think there is a 25% chance that we have seen the high of this cycle and a 75% chance that the 4-year cycle will play out like the last ones have (with BTC expected around October/November 2025). My plan is to sell my Riot holdings in 2025.
Good luck
RIOT Double Combo or another wave down?If it comes up from this point and this wave down isn't greater than the previous wave, I'm leaning towards the pullback being done. The W-A of W-(W) is questionable on counting and could easily see the first 3 waves being 5 waves instead. If that is the case, I'd lean towards another wave down. Either way, the correction is probably getting close to done.
RIOT: Time to wake up and get readyRIOT April breakdown has confirmed the intermediate wave 2 still intact. Good news is, price is likely making a major bottom. The bottom rectangle on the chart represents several technical support zones and if price comes down to this area, it will be a buy for me. We should at least expect a bounce from there. But if price doesn't hold in this area, then we have something else going on and the correction may turn out into a complete annihilation of this stock. Risk management is of the upmost importance once the toe is dipped.
RIOT potential buy setupReasons for bullish bias:
- Price bounced from support
- Price respected trendline
- Swing trade
Entry Level(CMP): 12.40
Stop Loss Level: 9.97
Take Profit Level: 15.63
$RIOT callThe chart looks beautiful!
Bought April 19th $10 call for $2.82
CRYPTOCAP:BTC will be much higher by expiration.
RIOT retraced and could reverse but BTC is falling SHORTOn the 15-minute chart- RIOT uptrended and then retraced. It is now supported by the
standard Fibonacci retracement zone and UNDER the intermediate term mean anchored VWAP.
On the RSI indicator, the signals are UNDER the 50 level another suggestion of direction
being forecasted. In the meanwhile BTCUSD is trending down. while RIOT is not trading. I will
watch RIOT after the open on Monday fully expecting it will fall into the lower VWAP bands but
there could be a surprise if BTCUSD reverses over the weekend.
Texas Clashes with Bitcoin Mining Firm RIOTIn the heart of Texas, a clash of interests has erupted as Riot Platforms' ( NASDAQ:RIOT ) ambitious plans for a Bitcoin mining facility encounter staunch opposition from local residents and authorities. What initially seemed like a promising venture for economic growth and job creation has now become a battleground, highlighting the environmental and social concerns associated with the burgeoning Bitcoin mining industry.
The Rejection:
On March 11, the Navarro County Commissioners dealt a significant blow to Riot Platforms ( NASDAQ:RIOT ) by rejecting their proposal for a reinvestment zone, a crucial step in establishing the largest Bitcoin mining facility in Texas. Citing overwhelming public opposition, the commissioners opted against approving the zone, signaling a shift in sentiment towards Bitcoin mining in the Lone Star State.
Residents' Concerns:
The rejection reflects a growing chorus of concerns voiced by Texans regarding the environmental impact, energy consumption, and noise pollution associated with Bitcoin mining operations. Despite Texas' historical embrace of industrial activities like oil drilling and fracking, residents are now questioning the benefits of incentivizing Bitcoin miners, especially in light of the industry's hefty resource demands and limited job creation.
Water and Energy Consumption:
Foremost among residents' concerns is the substantial water and energy consumption inherent in Bitcoin mining operations. With Texas grappling with water scarcity and rising temperatures, the prospect of a Bitcoin mine consuming 1.5 million gallons of water daily during peak summer months raises significant alarm. Moreover, the industry's contribution to an estimated $1.8 billion increase in the state's yearly power bill underscores the strain on resources and the environment.
Social Impact:
Beyond environmental considerations, critics argue that the promised economic benefits of Bitcoin mining have failed to materialize. Despite Riot Platforms' pledges of job creation and investment, the reality falls short of expectations, with only a fraction of projected jobs materializing and minimal economic spillover into local communities. This disconnect between promises and outcomes fuels skepticism among residents and officials alike.
The Industry's Response:
In response to mounting opposition, Riot Platforms ( NASDAQ:RIOT ) and other Bitcoin mining companies defend their operations, highlighting the economic activity generated by their facilities and the ancillary benefits to local businesses. However, concerns persist regarding the industry's reliance on automation, which limits job opportunities, and its failure to align with the broader interests of Texas communities.
Future Prospects:
As Riot Platforms ( NASDAQ:RIOT ) contemplates its next move in Navarro County, the broader implications of the Bitcoin mining clash reverberate across Texas and beyond. The standoff underscores the need for a balanced approach to economic development, one that considers environmental sustainability, community well-being, and long-term prosperity. Whether Bitcoin mining can reconcile its ambitions with the concerns of local residents remains uncertain, but the outcome will undoubtedly shape the future of the industry in Texas and beyond.
JPMorgan Upgrades Riot Platforms Stock Rating. Idea 21/03/2024Investment analysts at JPMorgan have upgraded Riot Platforms Inc.'s stock rating from "Neutral" to "Overweight" and set a target price of 15.00 USD. This adjustment is based on the anticipated significant growth in Riot Platforms' hash rate, a key performance indicator in the cryptocurrency mining industry.
Riot currently operates with a hash rate of 12.4 EH/s at its 700 MW facility in Rockdale. The company aims to activate nearly 20 EH/s at a new 1 GW facility in Corsicana within 2024. This expansion is expected to enhance the efficiency and profitability of the company's mining operations.
Therefore, let's delve into the technical analysis of Riot Platforms Inc.'s stocks.
On the D1 timeframe, a support level was established at 10.60 USD, with resistance at 12.20 USD. There is a noticeable deceleration of the downward trend and the formation of a relatively narrow channel between the resistance and support levels, with a confident rebound from the mid-January 2024 support levels.
In the H1 timeframe, long positions may be interesting upon breaking through the 12.20 USD level, with a 13.71 USD short-term target. From a medium-term perspective, holding a long position of up to 15.02 USD could be considered.
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RIOT trade idea.If BTC uptrend in tact. RIOT has bullish post-june fundamentals. If Rate cut thesis in tact etc.
