This has been brewing for quite a while.
TFUEL, Theta's gas coin, just shot up 40% today (completing it's 5 wave impulse... so don't buy the top there! Wait for the retrace to $0.05 or so)
That has to be bullish for Theta (and possibly a whale strategy to shake loose the holders of the core asset by pumping its low cap gas coin).
Anyway.. chart pretty obvious. It's about to break up from this horizontal resistance, likely as / before it comes into contact with the supporting trend line. Should move to the top of the channel, hopefully with a wick higher to the full 1.6 fib extension.
If you take a look at the ThetaBTC chart, there's a similar channel, with similar room to move. So if BTC is flat, they'll go up together. And if not, then dollars will definitely increase, and ThetaBTC will remain roughly where it is (and has been for weeks!)
TFUEL, Theta's gas coin, just shot up 40% today (completing it's 5 wave impulse... so don't buy the top there! Wait for the retrace to $0.05 or so)
That has to be bullish for Theta (and possibly a whale strategy to shake loose the holders of the core asset by pumping its low cap gas coin).
Anyway.. chart pretty obvious. It's about to break up from this horizontal resistance, likely as / before it comes into contact with the supporting trend line. Should move to the top of the channel, hopefully with a wick higher to the full 1.6 fib extension.
If you take a look at the ThetaBTC chart, there's a similar channel, with similar room to move. So if BTC is flat, they'll go up together. And if not, then dollars will definitely increase, and ThetaBTC will remain roughly where it is (and has been for weeks!)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.