I've been sitting on the sidelines, thought $40 was a good buy point and got back in some. Went down to $34, looks like that zone bottoms at $33. If it breaks below that level who knows where the bottom is, $27, $21 then $14 worst case scenario. We do have to consider market conditions on this selloff, its a bloodbath out there right now. I'm long RIOT from here, I think its oversold at this level.
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Finished the day back up to $40 - so 2 things today. The $34/33 zone is finding buyers so it looks like we have an actual support area now. It went back up above $40 and closed back at it. For now thats a good balance. I'm bullish at this number still
I don't get it. RIOT should be outstanding as bitcoin is over 51k.
Rikity
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@dsouza1979, I noticed that first selloff, it kind of separated from the BTC movement, its acting more like a stock now but it does lightly move with bitcoin. Earnings coming soon too, who knows what that will bring. Being a small company, they are also more apt to say the wrong thing and send things plummeting. I'm going to play that one carefully
Dubrub135
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@Rikity, Yeah I feel everyone's pain here atm.... I considered selling cause I hate Red but you know what.... If I could id double down it's gotta be on discount..... right? :D
Rikity
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@Dubrub135, The market has been really wishy washy lately, its really hard to take a direction either way. I might just start throwing out iron flies and legging out as everything whips in every direction