There is an inverted head and shoulders pattern spotted on an hourly chart of THETAUSDT.
I made this pattern yesterday, and was waiting for the confirmation, the best confirmation point was at $1.83, where the dynamic resistance is, however Theta rebounded earlier.
$2.27 and $2.357 are the must test points based on the pattern, $2.51 is very...
$THETA.X is testing 4h resistance and the price creates an inverse head and shoulder after had a breakout from bull flag. If the price will have a breakout and turn the current resistance, into new support , According to Plancton's strategy (check our Academy), we can set a nice order
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly...
theta heading for 4.6-4.7 in the long term
we already got our profit previously after our entry from 0.8 with more than 100 % profit
tomorrow 15 Jan , is a time pivot for bullish wave , so let's take advantage of it
manage your risk and take advantage of any correction to hop into that one
don't forget to like this idea if you already like it, your support is...
THETA has retraced over 40% since it's ATH, giving us a potential position for new growth!
Very strong confluence of indicators here... From the Top:
CLEAR bullish ABCD pattern
RSI oversold with confirmation from volatility this is a likely bottom
MACD downtrend appears to be ending.
TD9 red sequence just finished. with the current candle being our zero...
Structure looks like a widening fan and has completed in my books the ABCDE impulses to only waiting on breaking this level.
Fortunately I'm already in the trade just looking to add another.
My thoughts is to enter the trade after it breaks this volume profile resistance level.
Aligns with a breakout setup.
THETA/USDT managed to push down towards the $1.50 level a couple of days ago. After a sharp rebound in the price of Bitcoin, THETA is on its way to recover some lost ground.
Momentarily, THETA broke-out of the pennant on the upside and manageed to beat the $2 resistance, signaling a new upward move.
I've marked two areas of resistance, R1 and R2, where I expect...