RRRIOT PLATFORMS INC (USD)
3.430USDD
+0.065+1.93%
As of today at 18:44 GMT
USD
No trades
RIOTD trade ideas
RIOT Elon Musk and Jason Les in Partnership
Its already surpassed $MARA and going to new heights
Riot Blockchain Inc. (NASDAQ:RIOT) shares and other cryptocurrency-related stocks moved higher Monday after the price in Bitcoin (CRYPTO: BTC) rose following statements from Elon Musk.
Musk said he would resume allowing Bitcoin transactions at Tesla Inc. (NASDAQ:TSLA) when there is reasonable clean energy usage by miners.
You can obviously see that Elon Musk and Jason Les are talking a partnership deal using renewable energy. I wouldn't be surprise if Elon Musk was the center of it ALL and invest huge sums of money to RIOT Blockchain as an example of it all!
Let alone $RIOT is DEBT FREE!!
Riot Blockchain was up 14.18% at $35.43 at last check.riotdaily6-14-21
Riot Blockchain Daily Chart Analysis
Shares are trading in what technical traders call a pennant pattern. The stock is nearing the end of the pennant pattern and soon could see a large move.
The stock crossed above the 50-day moving average (green) Monday, and trades above the 200-day moving average (blue), indicating sentiment in the stock is likely bullish.
Each of these moving averages may hold as an area of support in the future.
Key Riot Blockchain Levels To Watch
Shares are nearing the end of the pennant pattern, and a breakout could move the stock strongly in the same direction as the breakout.
The pennant pattern occurs after the stock makes a run up and the price is later condensed between the highs and lows until the price is able to break out of either support or resistance.
The Relative Strength Index (RSI) shows that the stock has started to enter the area above 50. This signals that there are more buyers in the stock than sellers. A breakout of the pennant pattern while the stock is well in the overbought range could bring about a large move.
What’s Next For Riot Blockchain?
Bullish technical traders would like to see the stock trade in the pennant pattern for a bit longer before breaking out of the pattern resistance. Bulls would like to see a breakout of the stock while the RSI trades well into the overbought range.
Bearish technical traders would like to see the stock fall below the pattern support. If the stock can break below the pattern support and then go on to hold it as resistance, the stock may see a strong downward move.
RIOT BLOCKCHAIN A LEADING INDICATOR FOR BTCAs I've pointed out in the chart, every major move that has occurred in BTC has come on the back end of a RIOT Blockchain move.
The 2 are obviously correlated, and picking through the price history dating back to the major dump of 2018, I've noticed RIOT always goes first, whether it be up or down.
This has happened perfectly in sync since RIOT has actually started mining BTC.
Currently, RIOT has already started a bullish breakout and is up about 67% since the local low. BTC on the other hand is only up about 28% from it's local low.
RIOT will be very important to pay attention to going forward, as they have a large amount of their shares owned by institutions, as well as close to 2% ownership of the BTC hashrate coming soon.
Just wanted to point this out! Always good to find an edge somewhere ;)
- CA$HLESS
$RIOT might be breaking out of its downtrend.....If you look at the weekly trend on Riot Blockchain it may be breaking out of this down channel that has been highlighted on the chart. Look for the price to rebound around 38 and 40 dollars level and find a bull position to ride it up. There are alot of plays you could do with this price movement. You could buy the stock, you could buy a leap, you could buy a spread, you could sell a put credit spread. Based on your level of risk and your zeal for reward you can figure out what works best. Try to include indicators that are useful like the MACD and the RSI ....Later I can discuss the other indicators that are on the chart . But put this one on your watchlist.
RIOT could roll up past All time High by End Of YearRIOT could roll up past All time High by End Of Year
Not Financial advice just a computer drawing - I should be painting right now.
If the story on these miners can turn to green energy and efficient tech the stock price will rise just on the speculation of a new good idea.
NEW POSITION $RIOT Target 46.95 for 49.24% $RIOT Target 46.95 for 49.24%
Or next add level is at 15.97
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I start every position with 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
Shorting opportunity next weekRiot entered a bearish trend on April 14 after breaking out of a symmetrical triangle and doesn't look like it's going to break out of this trend next week. There's hard resistance at 26.95$. The last 2 bars are bearish with top wicks and the moving averages crossed over. Sure the RSI is oversold but with 3 failed pushes to the channel resistance and 4 failed pushes to the $26.95 resistance i see this possibly hitting 15$.
My strategy: ATM Put
Entry: $22.50
Stop Loss: $23.30
TP: $20 (I may just trail it depending on bar formation and where it is in the channel)
This isn't financial advice just my opinion
RIOT short term target 25 early next week; medium term 18-22Chart looks almost as terrible as the BTCUSD chart (see reference below) with an intraday H&S formation. Confirmation of this pattern would stick us around the 25 level. With the 200 day offering support around 22-23, and having tested it for a week previously, it seems probable we could descend through it in the next week or two. I would see 18 as the medium term critical support if the 200 day fails.
The optimistic may envision a falling wedge here, but the volume pattern does not support this hypothesis.
Note that also if we should find the path to 25, this could actually form an even larger head-and-shoudlers (shoulder 25, head 29, shoulder 25) - with a downside projection to 21.
RIOT Swing Trade 5/27/2021Look at day chart and week chart, consolidation on the 200 SMA for the day chart and major break out above 9 SMA. Bearish doji and morning star on week chart, also a break in the 27.50 resistance. Price is going to be heavily based on the price of BTC. BTC broke 9 SMA on the daily and nearing break on the 200 SMA, with a MACD flip and a RSI coming back from 30. Double bottom on BTC with higher lows, broke 40k resistance. Great trade! This is not financial advice, I am not advocating the buying or selling of RIOT stock.
