This Bullish Reversal Pattern Can End up The Sideways TrendHey friends, hope you are well, and welcome to the new update on Theta coin.
Parallel channel:
On the daily chart, the price action of Theta has formed a parallel channel and moving within this pattern since 1st Jan 20201. In the meanwhile, the price action is also testing the exponential moving averages 10 and 21 as supports. And forming higher lows.
SMAs:
On the daily time frame chart, the price action of Theta is still moving above 25, 50, 100, and 200 simple moving averages and using 25 SMA as support very well.
Bullish reversal BAT move:
On the 12-hour chart, the price action of Theta is completing the final leg of the bullish BAT pattern, and soon it will be entered in the potential reversal zone. There is also 100 simple moving average support in the potential reversal area. Before this, the price action also completed another BAT move.
Bullish reversal Gartley move with Bitcoin pair:
On the 2-day chart, the price action of Theta with the BTC pair is completing the final leg of bullish Gartley and soon it will be entered in the potential reversal zone. There is also 100 simple moving average support in the potential reversal zone and the 200 SMA below the PRZ level. On breaking down the 25 simple moving average the pattern will be confirmed.
Conclusion:
Theta needs a little more drop for the completion of bullish reversal harmonic moves in the US Dollar market and in the Bitcoin market as well. Then a big move can be started.
