RIOT elliot waveRiot is trading in a picture perfect elliot wave. Has a few gaps to fill below and should finish off the correction phase.
RIOT trade ideas
RIOT: Bounce incomingRIOT is going through a major rout right now. It has fallen much harder compared to BTC. At this point we should see at least a relief rally for both. Current price action looks like a larger wave C is playing out. However, we cannot completely discount the bullish case. The way to identify would be the pace and strength of the next move. If we see a choppy wave 4 type of price action, then the expected wave 5 to around $7.5 area should play out in the next few weeks. If we see a very sharp reversal the takes price above $13.75, then something else is going on and will need to switch to the bullish count. In either case, a buy signal should present itself in the coming weeks.
Riot wait buy and waitRiot a share in every crypto portfolio. I am assuming an entry period of the next 4 weeks. Compared to many short fans who see Bitcoin in further depth, I am firmly convinced that we have been in the bull market since September, exceeding USD 25,000, and that the market will not allow a major price decline. I'm betting on Riot in this crypto bull market. I am pursuing the entry target of a bullish Gartley, and the first targets have been chosen accordingly. Wait, get in, wait and get out.
Good luck and success
SEC EFT CRYPTO APPROVAL SELL THE NEW STRATEGYGains now baked into after SEC announcement! Time to sell
RIOT Breakout! 33% Gain potential RIOT is basically a crypto mining company.
Bitcoin right now is breaking to highest levels since 2022.
RIOT's balance sheet is positive with more assets than debt.
RIOT recently spent 290 million USD on purchasing new and advanced bitcoin mining rigs as well as a contract to buy a lot more of those in the future with MICROBT.
Technicals show breakout after breakout, with a fresh breakout recently above 13.80.
Stop loss is placed below second horizontal support around 12.50.
Take profits are allocated around key resistance levels on the way up.
Indicators show bullish momentum with plenty more fuel to go.
This is a potential swing trade.
Best of luck and feel free to ask questions!
RIOT BLOCKCHAIN LONGRiot is about to break out from an inverted H&S pattern that has been printing since 2021. I expect a big move to the upside.
Riot back to trendThis whip saw market is certainly flushing out leverage. I remain in my spot shares and am contemplating June 20$ calls. Riot like Coin is back to trend although this riot trend line began a full year ago. Both of my short term bearish price targets of 17$ and 15$ were hit. This ETF tease is really going to spook retail. Will we get another flash crash?
RIOT bullish continuationHello traders,
chart of RIOT looks fantastic at the moment with rounded bottom with price founding support on trend line after successful break I think the price will continue higher and my target is 20$.
Riot corrected as planned, now expansionI am heavily expecting riot to go back to 20$ here in this whip saw market. Many levered bets were likely flushed out here. My first short-term bearish target was hit and we came VERY close to 15$ flat as well. I think we are looking between 18.50$ and 20.9$.
Riot to 20$ishI am expecting one of my larger bags (riot) to hit about 20$ before the next correction. Riot and Mara have been on absolute tears lately. My theory that Bitcoin related stocks precede Bitcoin price action has been proven true the past few weeks. A correction to the dashed red would be optimal, although Riot likes to overreact in each direction. A more bearish target is 15.15$ish. In summary I am short-term bullish, medium-term bearish, long-term bullish.
RIOT REVERSAL?Crypto is gaining sentiment while market front runs rate cuts pricing in 4-5 cuts. Now earnings of companies in NASDAQ who is entangled with crypto holdings and institutions recover from the FTX debacle. MicroStrategy's SAYLOR, sees BTC higher with April halving on top 2-10X increase in demand (he implies from ETF crypto filings, pending SEC decisions, he said (TICKER: MSTR). Riot is similar. Once SEC announces approval (otherwise they would not be entertaining SEC registration, if not), SELL THE NEWS!!!
$RIOT: 17.5 May Still Have MoreCrypto is still showing strength here and I'm curious to see if it's proxies like RIOT, HUT and MARA will continue their run as well.
#RIOT Bitcoin Miner ... Can it rocket to $130 ...?You tell me?
Do you think #Bitcoin will cross $100k this cycle or not?
If it does , why wouldn't our miners create parabolic tops in new All time high territory?
Good luck in your speculations.
This could start a $RIOTJust check it out, massive point for NASDAQ:RIOT to break out and rip, paired w/ the halving we are def in for a ride so lets see if it can break this channel and really kick it upwards.
RIOT Inverse Head and Shoulder = Short Squeeze?I am still mega bullish on RIOT. If/when the $Bitcoin ETF is approved it could easily run to $50 from here. #riot #bitcoin
Long on RIOT We are long after the backtest of the breakout pattern and the key level.
The targets are clearly defined, however, if one was to go for the third take profit only they could have their stop loss below the last low at 8.6.
Happy trading!
Opening: RIOT January 19th 8/15/15/22 Iron Fly... for a 3.60 credit.
Comments: High IV/IVR (115.3%/36.3%). Looking for this to "behave" between the 11.40 and 18.60 break evens for a few weeks ... .
Metrics:
Max Profit: 3.60 ($360)/contract
Profit at 25% Max: .90 ($90)
Buying Power Effect: 3.40 ($340)/contract
ROC as a Function of Buying Power Effect at 25% Max: 26.5%
Break Evens: 11.40/18.60
Delta/Theta: 4.17/2.05
Riot defensive putsToday I snagged a few 10$ puts in Jan to defend my large bag of spot riot. I expect the stock to fall to around the circle area if BTC is to correct to 37/8k over the coming few weeks. This consolidation is needed as the market was pretty over heated. The emas are starting to coil downward, RSI momentum is broken, the Bollinger bands were way overheated. A nice reset on RSI and price action would be appreciated for the greater longer term momentum. My first target is 12.9$. then 11.7$.
Elliot Wave Count & Targets RIOTRIOt has great rally off the lows.
Favoring 1 last leg higher, however targets were reached.
We will see how the pullback plays out, if remains above the previous low of $5.16 where we labelled it as wave (ii), we can go long with a stop loss just below that low.
Theress 3 nice gaps clearly visible below HKEX:9 , HKEX:8 & HKEX:7 ; so those are areas we can focus on for pullback target zone as we await for it to complete.
We're being VERY cautious at these highs as the rally is already over-extended (yes, still room for higher), but were also anticipating bears and sellers to take over to minimally retest the lows, if not resume lower, depending on how global/financial markets react over the next few days/weeks.
If you've entered a short from the highs, congratz to you, focus on taking profits in the HKEX:9 - HKEX:7 area and place a stop loss near the local high
RIOT: can go one of two waysRIOT price action has been interesting. The choppy action in the month of October has kept me out of a trade but, the November pump has made things a bit awkward. From EW perspective, I have 2 possible counts that are high probability. I have changed some degree of labeling from my last post, but overall, it's the same idea.
Option 1: Bearish idea that we are still having a larger degree wave 2. Price is putting in wave B right now and we will see a very sharp move down to complete intermediate wave 2 and then go into the bull run of all bull runs for the miner stock.
Option 2: Bullish idea that intermediate wave 2 is complete and price is already in the massive bull run.
So how do we know which one it is? The answer is to let some more time pass.
For option 1 we might see one or two more highs in the next few days before some kind of a bearish divergence gets created in RSI in lower (4/8/12 hour) to higher (daily) time frames. Then, the downturn would be sharp and quick. Everyone will say crypto is dead again and most likely the low of wave A will break.
For option 2, the same one or two highs in the next few days will be just the lower degree wave 3 and the retrace will be slow and choppy for wave 4 for a week or two and it will put in another 5 waves to complete the minor degree wave 1 and then the correction will be a longer wave 2.
The trade will be to watch the price and play the retrace. If things are sharp and quick, we can play the bounces with stop losses. If things are lazy and time consuming, then start to build small positions along fib retrace areas and DCA until some key level breaks. In both cases, trade is not right now and, in both cases, RIOT will make some crazy gains next year. Risk is lower above $20.
Mark up On RIOT STOCKHERE I AM CHARTING For Riot stock to end the year? and also projected area to pay attention to and conformations along the way to purchase stock, purchase options, or sell cash secured puts? which route makes the most money?
Breakout imminent. Time to play catch up.Bitcoin has moved a bunch whilst these stocks lagged. A big divergence in price appreciation. NDX is bottoming out. So is the S&P.. as long as bitcoin holds price up here these stocks could easily run 150% - my prediction is 25$ before a pull back to 15
RIOT MARA UPDATE FROM OCTOBER.Hello all just doing an update from my previous idea in October regarding NASDAQ:MARA & $RIOT.
In October I took 3x option contracts.
1x NASDAQ:MARA 4$ 19 APR 24 Call
2x NASDAQ:RIOT 5$ 19 APR 24 Call
Currently I have sold 1x RIOT Call for 1,010$ which was a 100% return almost returning me all of my initial entry, and I am still holding 1 of each, currently the P&L went from $1400 inital, to $3,388.
Resulting in $1988 profit so far. 3 month P&L 137%
Bless up traders, it's time to eat :)
Love - Mindless
