THETA coin bounced of weekly .618 support almost to the exact sat plus confluence of the bottom of the parallel channel. In addition, Fib time pull was an exact hit to the .618 before having a rise of around 55% and now currently testing ATH resistance. IMO, the price can continue uptrend and my target would be the 1 and 1.618, depending on the performance of BTC.
For a conservative entry, I would look at a retest of the top tip of the channel that also coincides with the .618 golden ratio. This is my first TA and im still learning the ropes so please take this with a grain of salt.
For a conservative entry, I would look at a retest of the top tip of the channel that also coincides with the .618 golden ratio. This is my first TA and im still learning the ropes so please take this with a grain of salt.
Comment:
Update 06/11/21 everything is going as planned! looks like we are about to retest the top of the channel and 0.618 after testing ath, chart also looks like a potential cup and handle pattern, i am definitely keeping an eye on the reaction of the 0.618 and will enter a position if I see 30m candle close above it
Comment:
Update 06/12/21 Exactly as predicted that bounce! Now lets just hope BTC performs well and you can expect this coin to moon and the next few days/weeks!