$RIOT ~ As expected...As shown in previous update, correction continues and expect lower prices as shown. Possible opportunity soon but not yet. Will be interesting soon and will continue to track closely.
RIOT
$RIOT ~ Correction still in progress...As expected, the bitcoin miners are correcting along with bitcoin itself. Although we are getting close to the 61.8 for a normal wave 2, I would recommend being careful as crypto tends to correct a little deeper and should be no surprise to see the 78.6. Remain patient and it will pay off later down the road.
Riot Blockchain: Weekly RSI illustrating attractive Risk-Reward?Riot Blockchain has been punished harshly over the last few months.
Its common knowledge that Riot is closely correlated to both Tech Equities and Bitcoin. It is also effected by Crypto mining sentiment and macro factors.
With this in mind I believe that this stock is greatly undervalued. I believed it was undervalued at $11-12 but macro-economic factors have distorted this: Central Bank Raising rates; Ukraine-Russian War related Supply Chain Problems; Inflation caused by Supply chain disruptions: War profiteering from Oil companies keeping supply lower than needed.
Between the ranges of $3.60-$4.80 is the ideal accumulation zone. Many holders have a cost base higher, including myself.
Due to rapid growth in the companies mining capacity, which is accelerating into the start of 2023. The company is significantly undervalued from a fundamentals stand point.
The Daily RSI attractiveness is in a similar setup, to the multiple sub 30 RSI tests in 2018. A time period that was also a Bear Market.
1) Be greedy when others are fearful.
2) If you believe in a Companies business and promising future outlook. Don't let a bear market discount be the reason NOT the DCA. Even as the stock has been trashed recently, the fundamentals have not changed.
3) The fundamentals are the strongest in the mining business. With huge mining capacity coming online over 2022 & 2023.
>>> Eyes on the Medium to Long Term<<<
Just one swing traders opinion, not financial advice.
$riot bottoming here?$riot looks good on multiple timeframes.
$riot has doubled it's $btc production rate since last year and with the next $btc halvening in just 2 years, this looks bullish for $riot
$RIOT next supports in the single digitsOn Friday, Riot broke a key support at $14 and is not trying to find support.
The next support levels are all in the single digits. I do think the support at $9 will likely break and that we'll end up somewhere between $3-6. Let's see what happens in the coming weeks.
Short $RIOT CMP $17.21Short $RIOT CMP $17.21. Bear flag. MACD turned bearish. 9 SMA rejection. This one tried to break above 50 SMA but failed.
Short Target 1 is $13 area
RIOT bullish falling wedge!As many of my followers know, I am typically not one to talk about stocks (as my username indicates, I largely talk about cryptocurrencies). However, I do typically make exceptions when the stocks deal with crypto and/or blockchain.
In this example, I want to call out the falling wedge that has occurred with RIOT blockchain. Since the all-time high (ATH) at the beginning of 2021, the price has falling over 85% to the bottom of what looks to be a falling wedge that is forming, which is often a bullish sign. This bullish trend looks further confirmed by MACD forming a nice "reversal" divergence (dotted white lines on price and MACD) indicating that a reversal very well might be in order soon.
There is still some downward potential however, and the general market for both stocks and BTC could easily drag the price of RIOT further down, however, the trend for now looks like a reversal is at least possible for RIOT.
But as always, this is just my opinion and in no way should be taken as financial advice. However, please like or comment if you agree or see anything in addition.
RSI Signalling Riot Blockchain Oversold. Earnings Incoming!> Riot Blockchain has been dragged down by the greater tech market sell off. Bitcoin is still holding up. Considering the correlation Riot has to Bitcoin's price, this provides upwards momentum.
> The Nasdaq is falling into daily and weekly Oversold RSI levels. This increases the likely hood of a bounce in equities, suggesting upward momentum in Riot. Earning season is in full swing with many earning releases due in May, including Riot's May 16th release. Fingers crossed that aggressive expansion plans will not damage their earning results too starkly.
> Still awaiting the Crypto Miner FOMO. Likely to repeat when Wall Street and Retail, look for the highest return potential.
>>> Market thoughts:
> Check out "Game of Trades" on YouTube for some interesting market takes. Especially promising charts and correlations to consider in your Market outlook.
> 2 year bond yield looks like it topping, signalling return to SOME risk taking.
#MARA - #Marathon on the neckline!As highlighted a few weeks ago
The #Blockchain equities are giving us a major tip of the hat to where #BTC and #Eth could be heading
#MSTR
#COIN
Galaxy digital
#Riot
Riot Blockchain solidified support for a move to the Upside.Riot Blockchain has been overlooked over the last few months. As Clearly seen on the chart, the correlation to Bitcoin's movements is closely correlated.
> I Believe that an ascending support line, has been tested multiple times by both Riot Blockchain and Bitcoin .
> With significant momentum driven by earnings season. Earning season is providing significant upside potential for all equities, especially in the Tech Space.
> Combined with Bitcoin's Recent strong upwards momentum, from yet another confirmation of strong support.
> We are likely to see a rapid rise in the price of Riot over the next few weeks. I think this is an ideal range to DCA, at the lowest risk level we have seen Riot Blockchain range in for a significant time.
1) Be greedy when others are fearful.
2) If you believe in a Companies business and promising future outlook. Don't let a discount be the reason NOT the DCA in lower. Especially in a stock you believe will be significantly higher in the long term.
3) Riot's fundamentals are one, if not the strongest in the mining business. With huge mining capacity coming online over the next few months.
>>> Eyes on the Medium to Long Term Chaps <<<
Just one Long term focused Investor/Traders Opinion, not financial advice.
The dollar just broke a 37 year old trendline This doesnt look good for Bitcoin. This could be the beginning of BTC to retest 20k level if the dollar keeps spiking. Commodities at all time highs, the USD is needed globally... much sooner then they need Bitcoin. Until commodities are paid in BTC, the Dollar will remain strong with EUROPE / Global uncertainty
$MARA back in for another run 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
This morning my team purchased shares of digital mining bitcoin company Marathon digital $MARA at $25.92 per share. Our take profit is $32.75 with a stop loss at $24.90.
Our Entry: $25.92
Take Profit: $32.75
Stop Loss: $24.90
If you want to see more, please like and follow us @SimplyShowMeTheMoney
$CLSK sold our shares with a 21% gain 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management
Recap: My team purchased shares of digital mining bitcoin company CleanSpark $CLSK at $10.30 per share on March 3, 2022.
We sold our $CLSK shares today at $12.50 for a gain of 21%.
Thank you all for sticking with us through this trade despite us hitting our stop loss on this trade early on. We held through and have been rewarded nicely!
Congrats to those of you who took this trade!
Our entry: $10.30
Target (HIT): $12.50
If you want to see more, please like and follow us @SimplyShowMeTheMoney
Is BTC Going To 70k By EOY? Here's What I think. Good afternoon traders, I hope everybody's week is off to a good start!
So, I was perusing around the markets looking for my next play and I came across BTC's weekly chart and I couldn't ignore this gem. I think that we are sitting in the short term bottom of BTC and that it's very likely that we will see another rally into the end of the year. That being said, I know that the markets are crazy right now due to recent events, inflation, etc. However, from a pure TA standpoint I think that this is an absolute layup when partnered with BTC backed stocks such as $MSTR and my personal favorite $RIOT. We can see that we are beginning to cup in the weekly and hovering around our established support levels (typically indicative of an incoming uptrend and EMA cross).The circles on the RSI highlight a pattern that I've noticed. As you can see the last 3 times RSI entered this level it rallied the following days / weeks. Could be a coincidence but I figured I would explain my thought process.
I've noticed that $RIOT tends to almost always correlate very closely with BTC's movements even on a daily basis and we could grand slam some cheap calls down the road with them if we can see a similar pump to what we saw in Feb. - Mar. 2021.
I will be looking to load up on cheap OTM calls on both of these stocks both within the Jan 20th 2023 options chain. (This is my opinion only, not financial advice. DON'T copy me)
Thank you guys for all the support so far, and let me know if you'd like to see more of my ideas within the crypto space as well.
-Flippa.
$BTC buying the morning dip 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Buy Entry: $43000
Take Profit: Yet to be determined
Stop Loss: $42000
If you want to see more, please like and follow us @SimplyShowMeTheMoney
RIOT (SHORT)RIOT is setting itself up for a nice short
-ABC pattern projected fib extensions
-multiple rejections of fib 1.236 and 1.618 levels
Possible targets: 13 to 15 zone
As this could turn into a trading range with that as the upper limit of the range.
$RIOT Trade update$RIOT Trade update
RIOT averaged down today. New average 17.61
New sell target 23.95 for 36%
Add targets in the red and I have open orders at all of them.
GL, y’all
——————
I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
Have fun, y’all!!
(\_/)
( •_•)
/ >🚀
RIOT: Trading the RangeRiot Blockchain - Short Term - We look to Buy at 26.27 (stop at 21.28)
Trading within a Bullish Channel formation. We look to trade the current range. Previous support located at 24.00. Previous resistance located at 41.00. The bias is still for higher levels and we look for any dips to be limited. Risk/reward is ample to call a buy trade.
Our profit targets will be 40.95 and 46.00
Resistance: 41.00 / 50.00 / 60.00
Support: 24.00 / 20.00 / 18.00
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New Position $RIOT Target 33.67 for 59.42%New Position $RIOT Target 33.67 for 59.42%
New position @ 21.12… looking for 33.67 for 59.42%
RIOT diverges from BTC and should reverseThis is my first idea I'm publishing to TradingView, so I'm eager to hear your thoughts/criticism.
The premise starts by stating that RIOT is highly correlated to BTC/USD, given how the business model is BTC mining that seems fair. As such, with the recent increase in BTC/USC RIOT has gained also, but sometime on Feb 9th it started diverging from BTC/USD and has only increased the divide since then. Why? There hasn't been a single catalyst coming from inside the company and it doesn't hold any BTC and is a money losing operation while trading at 1288 times last quarter's earnings. So my guess is that there's no reason to sustain this diverges and thus we'll go down from here.
I'm not going to say it's going bankrupt, but it should revert back to being tightly correlated with BTC/USD.
My prediction/guess - it reverts back to $33/share level.
Market Update and a look at fee FREE blockchain ETFs/MinersIn this video:
* Should we be concerned about the price action today in the crypto space?
* A quick peek at the Stock Indexes and BTCUSD and ETHUSD
* Fee Free Blockchain ETF's and Miners which you can buy on Robinhood, Ameritrade, and others:
GBTC
MARA
RIOT
NDTAF
HUT
HIVE
IREN
BITF
GREE
ARBK
ARBKF
SDIG
BTCM
CLSK
BTBT
DMGGF
ARKK
BLOK
COIN
BSVUSD
BCHUSD
BTCUSD
DOGEUSD
LTCUSD
ETCUSD
ETHUSD
Best to you all and HAPPY NEW YEAR!
-Stew
ANY bounce from the strong support ??ANY Sphere 3D wants to rival MARA and RIOT in 2022.
Peter Tassiopoulos, CEO of Sphere 3D: "We have successfully pivoted to the cryptocurrency mining industry with the purchase of our first 60,000 miners, capable of producing 6 exahash of capacity. we have secured an agreement with Gryphon Digital Mining to have Core Scientific host and manage about 230 megawatts of bitcoin mining capacity, which covers over 71,000 bitcoin mining machines."
This strong support area seems like a great buying opportunity!
My short term price target is the 6.2usd resistance.
