THETAUSD
THETABEARUSD
Theta had a huge parabolic move of about 1,400% in the last 75 days, from about $0.04 USD to about $0.60 USD. And now, a big correction started two days ago.
The correction does not seems to be over, we had an initial down move, which I will call Wave (a), which clearly tracks 5 waves to the downside, and now it seems like we are making a bounce, which I will call Wave (b), which should consist of three waves, a,b,c, of which it seems we are missing wave c. After that, I will be expecting another 5-waves to the downside to complete Wave (c).
So, what I will try to do is to short around the $0.40 USD area this week, with a price target of about $0.20 USD. If I don’t get a chance to short around that area this week, I will not make the trade.
To do the trade I’m using my account in ftx.com/ , you can either go for the Futures, ftx.com/trade/THETA-PERP , or the Bear Leverage Tokens, ftx.com/trade/THETABEAR/USD .
On the ThetaBear Tokens, the idea would be to buy around $2,500 USD, and to sell them later at around $7,500 USD sometime next week. On the futures to sell at $0.40 USD and close them at $0.20 USD, 5X leverage max.
And since it is a risky trade, you are not supposed to put all your money in it.
Good Luck to You
Comment:
Here is an update on the Theta trade, still waiting for that last push up before shorting.
Order cancelled:
It’s breaking down already, I didn’t get a good entry. Didn’t do the trade. Trade cancel.