I understand that the ALTs are taking a beating but soon, there will be an opportuinty for them to regain.
Why is it happening? Most likely people will be dropping their ALTs for BTC however those who are doing this will soon run out and at the same time, BTC might level off.
Its when the ALTS will make their move.
I have chosen THETA purely because of...
Theta is above All Time High and currently forming this bullish pennant. Also we had a nice breakout from the big triangle. This coin is definitely one of the strongest alt coins on Binance. I recommend to buy this coin and hold for few weeks.
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Today’s second analysis – TEHTAUSDT price action breaking trend therefore any rallies are now considered bearish retests.
Points to consider,
- Price Action Lower Low
- Local S/R Resistance (Bearish Retest)
- 200 MA Resistance
- Oscillators Extended
- Declining Volume
THETAUSDT’s immediate price action is bearish under Local S/R; this...
As much as I wish wishful thinking worked, it never makes me money. Theta hit the target. If it drops below the black line this is my expectation of how things will play out.
Overall I am still bullish on the project and am still holding. If this ends up true. I will sell my theta and buy back in at a lower price.
Stoch RSI is saying that we are crossing over on the weekly and about to come down. The indicator is calling for a sell. We have hit a bottom on the daily at the same time. It could come down to as much as $0.56
THETA is one of the projects that has very solid partnerships and fundamentals indeed. This is the DAILY chart of THETA / USDT. After this storm is over and when Bitcoin settles down, we might see some possible price action like this.