Haejin Lee used to use what he called the jaws of wealth. Seems to be applying to Theta at the moment with wave 5 finishing at 29 cents and completing a 10 month cup and handle, correcting and continuing higher.
Haejin Lee used to use what he called the jaws of wealth. Seems to be applying to Theta at the moment with wave 5 finishing at 29 cents and completing a 10 month cup and handle, correcting and continuing higher.
A cup and handle is being formed and the handle could possibly be complete by March 7. This means that another push to the upside re-testing and possibly breaking through the 0.15 cent resistance en route to the next level.
In this chart you can see the potential price targets we can expect from THETA.
The Green Rectangles show areas that price action can take place with limited resistance, meanwhile the arrows indicate points of heavy resistance that will require substantial effort to break through.
If in every resistance stage a double top is created, means that it doesn't have the...
Theta is near the end of its extraordinary bullish run and the massive +290% gains. The 1W Resistance is calling for a sell at or just above it. I am looking at a 30% - 40% downside from there.
Targets: 0.12300, 0.10500.
Price broke resistance at 0.91 and seems to be strong enough tobreak through the resistance zone. Nice directional indicator setup. 1st target is 0.99 then i'll review for direction.
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