$Riot Platforms(RIOT)$ $MicroStrategy(MSTR)$ $CleanSpark, Inc.(CLSK)$ $Marathon Digital Holdings Inc(MARA)$ $iShares Bitcoin Trust(IBIT)$
🔺🅱🆄🅻🅻🅸🆂🅷 🅱🅸🅶🆃🅸🅼🅴 🅱🆃🅲
🔥📈 Crypto Miners Ready to Ignite~Which Ones Will Lead the Charge? 📈🔥
Kia ora Tiger traders!
The Bitcoin bulls are back in action, surging to $68,014 overnight on 18 October 2024. As Bitcoin climbs higher, the mining stocks and crypto ETFs are lining up for their own breakout moves. 🚀 This isn’t just about miners; it’s about the entire crypto landscape—from Coinbase to Marathon to the hottest ETFs. Let’s break down the top stocks, the hottest options activity, and the opportunities you can’t afford to miss!
🔎 Riot Platforms ($RIOT)
Current Price: $9.20
Riot is looking like a powder keg ready to explode! The chart patterns suggest it’s following Bitcoin’s momentum, and once Bitcoin clears $35K (it’s already at $68K!), we could see Riot hit $27.53. Historically, when Bitcoin pumps, Riot follows with a vengeance. We’ve seen this movie before, and it ends with Riot shooting through resistance levels like a rocket.
Key levels to watch:
• Resistance: $12
• Next Target: $27.53
With a strong base forming, Riot could be one of the biggest winners of the upcoming surge!
🟢 Analysts Say:
• Buy: 🟢 10
• Hold: 🟡 3
• Sell: 🔴 1
🔎 CleanSpark ($CLSK)
Current Price: $11.72
Another miner set to pop! CleanSpark is showing a tight wedge formation—technical traders love these. The stock has room to run to $43, and the wedge squeeze suggests it’s ready to accelerate with Bitcoin. Short-term pullbacks may shake out weaker hands, but CLSK could easily surge once Bitcoin sustains momentum. 📈
🟢 Analysts Say:
• Buy: 🟢 7
• Hold: 🟡 2
• Sell: 🔴 0
🔎 Coinbase Global ($COIN)
Current Price: $204.20
Coinbase is flexing its muscles. The stock has been riding Bitcoin’s coattails and is in a strong triangle pattern. With Bitcoin’s recent surge, Coinbase could push toward the $300 mark, especially as its non-exchange business expands. With options market volatility projected at 20% over the next 30 days, the moves could be dramatic!
Key levels to watch:
• Resistance: $260
With the largest options volatility bet since May, the smart money is anticipating a big swing. 🚀
🟢 Analysts Say:
• Buy: 🟢 12
• Hold: 🟡 4
• Sell: 🔴 1
💡 Fun Fact:
According to a recent report from a16z, global cryptocurrency adoption now sits at 617 million holders, but only 60 million are active monthly. This presents a huge growth opportunity for the market to activate these passive holders, potentially injecting massive liquidity and driving further adoption. 🌍
📊 Top Crypto ETFs:
The $iShares Bitcoin Trust (IBIT) is leading the charge in the Bitcoin ETF space, with the highest trading volumes. As institutional investors continue to pile into Bitcoin ETFs, expect IBIT to play a critical role in driving broader market participation. Other notable ETFs in this space include:
• Grayscale Bitcoin Trust ($GBTC): Another heavyweight in the Bitcoin ETF world, poised for big moves as Bitcoin climbs.
• ProShares Bitcoin Strategy ETF ($BITO): Offering exposure to Bitcoin futures, this ETF is also well-positioned for Bitcoin’s next leg up.
📈 More Miners to Watch:
• Marathon Digital Holdings ($MARA): Ranked in the Top 10 options volume leaderboard, with Coinbase and Riot, MARA is no stranger to explosive moves when Bitcoin surges. Having traded as high as $80 in the past, the potential for a major comeback is on the table. Marathon needs Bitcoin to push past $100K for the most significant gains, but it’s showing signs of life already.
• Bitfarms Ltd. ($BITF): In a classic wedge formation, Bitfarms could turn on a dime, ready to explode out of consolidation. This miner tends to move in sync with Bitcoin’s parabolic moves.
• Grayscale Bitcoin Trust ($GBTC): Often overlooked, GBTC continues to show promise as institutional interest ramps up. As the Bitcoin ETF race heats up, Grayscale is sitting in a prime position for a breakout.
🌐 Latest Analyst Comments:
1. “Riot Platforms is set up for a significant leg higher, with Bitcoin’s latest rally providing strong tailwinds. The stock is well-positioned to mirror its performance from previous cycles.” - Tech Trader Digest
2. “Coinbase’s non-exchange business is rapidly growing, making it more than just a crypto exchange. Watch for volatility—options traders are pricing in a big move!” - CryptoInsights
3. “CleanSpark is primed to surge, with its wedge formation suggesting a potential breakout toward $43. This miner is one to watch closely in the upcoming Bitcoin rally.” - CryptoInvestorPro
📈 Overnight Bitcoin Update:
Bitcoin surged to $68,014 in overnight trading (18 October 2024), its highest level in months. This is big news for all the miners and ETFs positioned for Bitcoin’s next move higher. Once Bitcoin breaks into record territory, we could see these miners and ETFs rip through resistance and go parabolic! 💥
🧠 Hey Tiger Traders! What do you think—will Bitcoin miners like Riot and Marathon outperform Bitcoin itself in the next surge? Which miner or ETF is your top pick for explosive gains in 2024? 🤔
🤖 @TigerGPTIf Bitcoin hits new record highs in Q1 2025, how much could miners like Riot and Coinbase outperform based on historical performance? What patterns should we be watching for? 📊
Happy trading ahead. Cheers, BC 🍀
@Tiger_comments @TigerStars @TigerPM @Daily_Discussion @TigerPicks @TigerWire
Comments
Here is the analysis of the mentioned stocks:
Riot Platforms (RIOT):
Current Price: $9.20
Support Price: $7.99
Resistance Price: $11.61
Average Cost: $9.85
Analyst Recommendation: 3 recommend, 11 buy
Analyst Target Price: The mean, low, and high target estimates are $16.685, $8.22, $22.0.
Capital Flow Data (5 Day): Inflow: $85.66 million, Outflow: $84.97 million
Earnings Forecast: The forecast EPS for 2024 is $0.25, with a forecast gross income of $391.92 million and a forecast EBIT of $25.14 million.
Recent Earnings Result (2024 Q2): EPS: -0.32, ROE: -13.35%, Gross Profit Margin: 23.39%
Stock Price: $9.20
MicroStrategy (MSTR):
Current Price: $193.42
Support Price: $133.4
Resistance Price: $202.4
Average Cost: $164.06
Analyst Recommendation: 2 recommend, 7 buy
Analyst Target Price: The mean, low, and high target estimates are $201.96778, $169.21, $290.0.
Capital Flow Data (5 Day): Inflow: $10.81 million, Outflow: $244.74 million
Earnings Forecast: The forecast EPS for 2024 is -$0.92, with a forecast gross income of $478.7 million and a forecast EBIT of -$413.48 million.
Recent Earnings Result (2024 Q2): EPS: -0.57, ROE: -15.67%, Gross Profit Margin: 72.24%
Stock Price: $193.42
CleanSpark, Inc. (CLSK):
Current Price: $11.72
Support Price: $11.34
Resistance Price: $11.74
Average Cost: $13.81
Analyst Recommendation: 2 recommend, 4 buy
Analyst Target Price: The mean, low, and high target estimates are $24.66667, $20.0, $30.0.
Capital Flow Data (5 Day): Inflow: $3.44 million, Outflow: $3.41 million
Earnings Forecast: The forecast EPS for 2024 is -$0.59, with a forecast gross income of $400.46 million and a forecast EBIT of -$20.78 million.
Recent Earnings Result (2024 Q3): EPS: -1.03, ROE: -65.96%, Gross Profit Margin: 56.60%
Stock Price: $11.72
Marathon Digital Holdings Inc (MARA):
Current Price: $18.01
Support Price: $16.97
Resistance Price: $24.37
Average Cost: $20.17
Analyst Recommendation: 2 recommend, 2 buy, 6 hold, 1 underperform
Analyst Target Price: The mean, low, and high target estimates are $21.44444, $16.0, $27.0.
Capital Flow Data (5 Day): Inflow: $35.08 million, Outflow: $12.23 million
Earnings Forecast: The forecast EPS for 2024 is $0.29, with a forecast gross income of $678.45 million and a forecast EBIT of $51.25 million.
Recent Earnings Result (2024 Q2): EPS: -0.72, ROE: -31.20%, Gross Profit Margin: 35.31%
Stock Price: $18.01
iShares Bitcoin Trust (IBIT):
Current Price: $38.05
Support Price: $31.23
Resistance Price: $38.23
Average Cost: $33.1
Analyst Recommendation: N/A
Analyst Target Price: N/A
Capital Flow Data (5 Day): Inflow: $34.4 million, Outflow: $34.1 million
No specific earnings or financial forecasts available for IBIT.
Stock Price: $38.05
Please note that the above analysis is based on available data and historical performance. It is essential to perform your own research and analysis before making any investment decisions.
Disclaimer: The information provided is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, and the prices of stocks can fluctuate. Always consider your own risk tolerance and seek professional advice if needed.
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