Bull flag formation: In US Dollar market the price action of Theta has formed a bull flag. Here the priceline is re-testing the exponential moving averages with the time period as well. And if the priceline breaks out the channel that has been formed within this flag then it can reach at $3.5 easily.
Cup & Handle move: On daily time frame chart, with the Bitcoin pair the price action of Theata has completed the formation of Cup & Handle pattern. Now it has also tested the support of 100 SMA and the 50 SMA has formed bull cross with 100 SMA as well. If we take the measurement from the breakout point to support and place it at the breakout point or resistance of the Cup. Then our next target can be 0.00011755 btc and if the priceof BTC will be $35000 then 0.00011755=$4.
Ichimoku cloud and Rising Wedge: On long term weekly chart, the price action of Theta with Bitcon pair has formed a rising wedge pattern and also broke out the Ichimoku bearish cloud as well. The cloud is now bullish so we can expect that the priceline migh make another attempt to break out the resistance of this cloud.
Conclusion: The price action of Theta is setting new all time highs in every rally. Now we can expect another rally that can be 100% up from the current price level.
So, we have a clear breakout on this handle formation... Does this mean the entire cup is in play?
What are you upside targets?
Losing-Up
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@losingup63067, Baring in mind, this is the first time ever that Theta has the weekly macd crossing up above zero! Closest it came before that was a rejection of a cross down; resulting in a 5000 sat / 300% rally.
Losing-Up
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Drawing your idea more accurately... we now have a daily candle fully formed outside of the breakout. And the weekly should provide the same thing on Monday. All the MACD's are amazing; every time frame, right up to the weekly. RSI's have held horizontal supports and moving up.
This has everything it needs technically, to shoot up any time now. Just a question of fast, or slow, or a macro rug pull (ie. Bitcoin)
LuXoGuerra
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Thanks for your analysis...!
axpe
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What is your price prediction at the end of this bull run in 2021?
What are you upside targets?