actually im holding theta for long term but tryin to increase the number of theta by trading . I think there is a chance to do that because there is an ascending triangle formation. For that formation the price expected to increase very quickly / sharply
After completing its elliot correction wave sequence THETA BTC has broken its descending triangle and had a golden crossover on the MACD, still room to grow on the RSI also.
Theta is brand new on Binance hence the 30 min chart. Its a solid project and i think it has much more room to grow.
My targets at the moment:
1. ATH of 4000
2. 1.618 fib 5000
Theta is on support of the Gann 8x1 Fib Ray - Current top is the 5th Arc but Theta has already outrun one of my charts and is parabolic - Resistance on the Arcs on the way up - If the arc stops the price it will drop to the previous arc for support and try and catch ascending support off the next fib ray across
Its a new coin so its hard to judge without any history to look back on - Something like this is a possible path before a drop, but could go higher as per the dotted lines - Depends on the hype and fomo factor
Long via Jun15/Mar16 diagonal for $4.37
Max Loss: $4.37
Stop Loss: Price at $64.40
Max win: As of right now, $263
Target: Price at $75
Long Jun15 $66 call: 61 delta
Short Mar16 $73 call: 14 delta.
I structured this trade to give me the most profit as close to my target as possible (in the case it shoots straight up), while still having a positive theta...