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!
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!
Trade active:
Target 1 reached! Currently ongoing correction, following closely
Trade active:
Target 2 practically reached! Let's see if we get target 3
Trade active:
After target 2 reach we have a retracement back down to previous horizontal resistance//support around $13.8 with a confirmation and rebound back up.
Crypto market recent recovery and technical confirmation on chart bullish for target 1 to be reached again at around $16.70-$17.00
Crypto market recent recovery and technical confirmation on chart bullish for target 1 to be reached again at around $16.70-$17.00