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.
I expect to see the 3rd big bounce from this support zone in the near future, potential for 1000%+ in returns is possible! it may take a while though.
stop loss below supports and targeting 24.01-40.97-54.70
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...
We may have some summer relief rally in the markets
RIOT is out of the downtrend channel.
Looks like 6 is a solid bottom and we should see gains from here (assuming BTC doesn't fail completely)
Based on Elliot waves; My short term target is 8.36, long term target is 12.
Riot may need to test that 6 again and if it does brake below, it may land it at 3.50.
LONG-TERM: While Bitcoin is testing a breakout on the daily at its critical multi-year support zone, RIOT has broken out of a downsloping channel and formed a smaller wedge at a major support historically, with classic bullish divergence on the RSI. Using a tight stop on this one so it could fail easily on one red day, but if it does work, it's a great reward to...
Riot Blockchain, Inc. is a Bitcoin mining company, supporting the Bitcoin blockchain through rapidly expanding large-scale mining in the United States. We are focused on expanding our operations by increasing our Bitcoin mining hash rate and infrastructure capacity. Riot believes the future of Bitcoin mining will benefit from American operations and endeavors to...
Bottom is close to in. RSI at low 40's on monthly. Ready for a big final wave 5, 2023 - 2024 for the next btc move... these move x 10' multiples relative to BTC.
building a position here over this year
Nasdaq will likely bottom this week. Unfortunately, this correlates strongly so we will see a bottom in the $7 range. Very irrational market at the moment and a great time to buy some at these lows. My TA shows there will be double bottom by the end of July and markets will be much higher by q4 of 2022.
Remember hold, don't trade, by end of 2024 we can be 3-12x...
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...
Looking to buy Call options for RIOT. Depending on how BTC reacts to 38000 resistance level will be the determing factor to if I buy these call options. If we see a break at 38000 then RIOT will more then likely trade down to $10 a share, this is where im looking to buy in. However if we see a reversal at 38000 then RIOT will likely trade into 11.5-12 zone. If we...
Riot Blockchain, Inc. is bitcoin mining company engaged in the provision of special cryptocurrency mining computers. It invests in Verady, Coinsquare, and Tess. The company was founded on July 24, 2000 and is headquartered in Castle Rock, CO.