Shared by
beno
Fundamentals
-Float = 49M
Catalysts / News / Painting the picture
-Jul 27 2020: Bitcoin price going up / sector sympathy
-Nov 24 2020: Bitcoin price going up / sector sympathy
-Dec 04 2020: New S-3 for $200M
Technical Analysis
-SPY pattern: Consolidation
-Intraday pattern: Fade
-Other notes: Tape was still very weak today, most likely using VWAP liquidity to fill ATM
Strategy / Confluence / Sizing Guide / Risk
Strategy: part of BTC macro Accumulation play
Confluence: N/a
Strike Zone: N/a
Sizing (lots + emergency): 250 - 500
Risk (stop / Rs): B/E stop at 10.79
Review / Lessons Learned
Got in yesterday AH at 10.79 expecting a nice run today because BTC was still bullish overnight. Tried some adds on RIOT this morning because it tends to have legs in the afternoon but I'm 99% certain they were still selling into demand to fill their ATM. B/E swing trade, traded MARA as my daily crypto play instead due to weakness on RIOT.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-12-16 16:21:00 | RIOT | buy | $10.790 | long |
| 2020-12-17 07:36:22 | RIOT | buy | $11.440 | long |
| 2020-12-17 07:36:22 | RIOT | buy | $11.450 | long |
| 2020-12-17 07:57:21 | RIOT | sell | $11.720 | long |
| 2020-12-17 07:57:27 | RIOT | sell | $11.720 | long |
| 2020-12-17 08:55:54 | RIOT | sell | $11.450 | long |
| 2020-12-17 08:55:55 | RIOT | sell | $11.450 | long |
| 2020-12-17 08:55:55 | RIOT | sell | $11.450 | long |
| 2020-12-17 09:55:22 | RIOT | buy | $11.250 | long |
| 2020-12-17 09:55:22 | RIOT | buy | $11.250 | long |
| 2020-12-17 09:55:22 | RIOT | buy | $11.250 | long |
| 2020-12-17 10:01:32 | RIOT | buy | $11.130 | long |
| 2020-12-17 10:07:15 | RIOT | sell | $11.110 | long |
| 2020-12-17 10:07:15 | RIOT | sell | $11.110 | long |
| 2020-12-17 10:07:15 | RIOT | sell | $11.110 | long |
| 2020-12-17 10:07:15 | RIOT | sell | $11.110 | long |
| 2020-12-17 10:26:57 | RIOT | sell | $10.770 | long |
| 2020-12-17 10:26:57 | RIOT | sell | $10.770 | 0 |
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