Panjang

$RIOT about to play catch up to the upside?

has been consolidating in a bottoming wedge and looks set to break out.

I think we see a very sharp move to the $18 resistance as RIOT has serious catching up to do. I think RIOT and HUT will be the most bullish two miners for this next move up.

After hitting $18, we should see some consolidation before the next big move higher.

Not sure if we get into the $100s or not, but will update the chart as the move plays out.

Nota

Took profits on riot calls +860%

Nota

Note: I got out of my call position because I think there's a possibility of RIOT retesting the $9 level before running. I still own spot from the $9 level. If we get a pullback, going to add my call position back for 1/17 expiry and add more spot.

Nota

That might've been it for downside. Needs to hold $11.80 to remain bullish.

Nota

Rebought some spot here ($11.58) for a trade to $16-18. However, I'm still of the mindset that we're going to see $9-10 before we see above $18.

So will likely exit my position up in that range and wait to see how the chart shapes up.

Nota

Added more at $11.85

Nota

Bought some $13C for 11/22

Nota

Could be wrong, but I ended up getting out of all of my positions. Not liking the price action.

Nota

Welp, glad I did that. Think we can go down to $9 or so

Nota

Getting close to going long. Looking for $9.85 or so. If we get down there, looking to take 20C out to 6/20/25.

Support below that would be $8.45 or so. Either of those entries would be great for long-term plays. I think riot will be one of the best performers after this pullback.

Nota

Be careful... think this can go much lower here.

benjihyam

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benjihyam

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