A subscriber asks a very intriguing question on whether the THETA/BTC chart has bottomed and what this might mean for THETA. Let’s look at the chart.
We can see what looks to be a completed correction, with an ABC pattern finishing with a compound ABCDE correction in the C-wave. This has formed a double bottom on the 0.786 Fibonacci projection of the A-wave from...
We have the Theta Token (THETABTC) altcoin trading pair on screen, let's see what's up.
The low level hit on 22-Jan. 2022 turns out to be the 0.786 Fib. retracement level for the bullish wave starting March 2020, this is a strong support level where bounces and reversal tend to take place.
Now, if you were to look at the weekly chart it is easy to see that there...
The price retraced more than 80% since his double top.
On the daily timeframe, the market created a double top and now is creating a descending channel.
We are monitoring the price for a breakout of 0.0000880.
How to approach?
IF the price is going to have a breakout from the descending channel with Volume, According to Plancton's strategy , we can set a nice...
BINANCE:THETABTC is in a falling wedge since March of last year. It has broken off the top of the wedge on 24 December and has just touched the top of the structure. I'm betting that this is a retest and that it will reverse upwards from here.
Points in favor of this trade:
- The falling wedge structure is solid.
- We are retesting the downward trendline after...
THETABTC price holding the support zone since last week. There is a bullish engulfing candle formed and the price holds the EMA 21 level, So we are expecting the bulls will take control after breaking the trendline and pull the price towards the 0.01300 level again. Good Luck!
After a months long descending triangle, THETA Network seems to be breaking away from BTC. This token has been like an annoying little brother to BTC since May. Is the token finally growing up? Possible retest, but break-up seems imminent.
Theta is in a wedge under which there is a static support and a strong trend line.
In area 1028, Satoshi is also placed on top of a support, due to its good momentum after breaking the wedge, it can touch the
specified targets.
TP1:0.0001338
TP2:0.0001768
TP3:0.0002704
TP4:0.0005850
SL: if any daily candle close under 0.0000920
if it breaks upwards we have officially had a test of the previous ath versus btc.
I keep an eye on green box. If there is a strong reaction in this zone, I open a lung.
Otherwise I'll wait for the rejection at the red box. wait for the switch from bear to bull on the lower timeframes.
Thats it trade safe champs.
Ps; for me it is a strong signal when I come...
Theta/BTC has been in a downward channel since May where we saw the big drop in the entire crypto market. Main-net 3.0 did not see the run up in value we had for 1.0 and 2.0. If BTC holds in this 50-53k range we could easily see a pump to, and above ATH.
Much of the Theta is circulation is locked up by the corporate validators. Supply shock if very possible.
$THETA / $BTC looks primed for a big move here with the support of this pennant / descending triangle at a significant weekly time frame support area. It if breaks that support then another 10% down are the lows of the May / July crashes. Probability suggests upside.
