Thursday, February 01, 2018 12:26:57 PM
Shares of Riot Blockchain Inc (NASDAQ:RIOT) collapsed another 10% today, hitting a low of $12.10. This stock traded above $45 on hype, as Bitcoin traded near $20,000. That is long gone and Bitcoin is collapsing lower. Bitcoin has a strong technical support at $7,500, that is likely where it will get a big bounce. During the expected fall, Riot Blockchain Inc will drop to $9.85. This is a huge buy on Riot Blockchain because it is a former pivot and the daily 200 moving average. In addition, Riot Blockchain is already oversold and by that point will be extremely oversold. I will be looking to buy at that level for a swing trade strong bounce.
Gareth Soloway
InTheMoneyStocks
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