This content details a successful swing trade of the stock RIOT, driven by the surge in Bitcoin prices, highlighting the correlation between cryptocurrency and related stocks.
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hey guys it's Brian from bear bull
traders here hope you're all having a
good weekend Sunday morning thought I'd
throw up a quick swing trade video one
of the trades that I did during the week
that turned out really well so let's
take a look at it here it's riot it was
on everybody's radar obviously the
volume it was trading and the price
action so you can see here on the daily
can see what happened and this is all
revolving around Bitcoin now Bitcoin
surging to new highs just looking at it
this morning it's getting really close
to ten thousand US and yes so all these
bitcoins stocks Bitcoin related stocks
blockchain anything to do with them are
now caught and so here you can see kind
of what's been happening daily and the
last couple days this was this was
pretty much the week that just passed
you know Monday Tuesday Wednesday and
then Friday Thursday being the holiday
so really nice there Wednesday I should
say great volume real volume build here
lots of people trading it the guys I
date traded it during me during the day
and and then it had a really nice close
so I decided to take it and hold it over
I guess over two nights because the
following day this was Wednesday
following BAE's Thanksgiving
obviously market closed on Thursday and
so let's just take a look here at the
day or at the minute the one-minute and
you can see you know see what happened
towards the end of the day last hour of
trading started to started to build some
volume started to come in a bit and the
price action started to happen again
started to break out of that nice
consolidation range so I usually watch
the market in the last hour if I can and
and this little breakout here I started
to I bought in again
and held and it was you know the price
action was good you know higher highs
higher lows and it just looked like it
was finishing real real strong near the
high of the day and I just thought you
know this would be a good overnight
swing trade even though it was gonna be
over two nights cuz Thanksgiving was a
holiday so you can see here a nice gap
up great opening range breakout - I did
take a little bit of profits here with
the position I did hell and it wasn't
wasn't huge was under a thousand shares
only it was 600 or 800 shares and you
know took this up you know took some
more profits in around here I think but
that was a great little great little
trade you know I think my entry position
was something around 1520 I think that
was my average price I think I did add
some into the clothes here brought it up
a bit but you know 15 20 15 30 was my
average price you know sold some here at
eighteen fifty eighteen seventy I think
I sold more over nineteen and then of
course it ran through the 20 and the 21
might have even bought some and and sold
it again quickly just to catch those
pops through that through the whole
numbers especially the 21 was a big one
so that was that was you know my my
swing trade it was I knew it was just an
overnight swing trade timewise because
it's it's really like it's just getting
parabolic here I was expecting Monday
that we'll see some some pullback but
you never know we'll see what happens
again I think it probably will gap up
but you know it's really extended I took
some ma RAL Mara and I'm holding some of
that right now again it's not a huge
position I again I did the same strategy
where I added got some and then added a
bit more and closed expecting that pop
on Monday it's already had some nice
after-hours action on the Friday traded
up a buck over a buck I think in the
after hours so that always bodes well to
for a for a good open on Monday so I'm
hoping again something like this a nice
gap up I'll probably sell it 10 so yeah
blockchain and Bitcoin anything related
to that is looking good and the I see
Bitcoin again up over almost 10,000 now
so yeah so we'll see what happens on
Monday look forward to seeing you in the
chatroom Monday morning everybody have a
good weekend the rest of the weekend and
we'll see what happens Monday morning
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