This market cycle has been very different from previous cycles.
One difference is that there are many coins that may well be locked in a multi-cycle bear market.
THETA is one of those coins.
In the previous market cycle it did a x300.
At that time I predicted it would dump 95% to reach a sub $1 target.
I received quite a lot of ridicule for this thread that I will link below 😅.
And of course after a x300 bull market, THETA became a hype coin and attracted plenty non-technical "crypto investors" to buy in the belief that this type of price action would happen again.
But corrections can take time and x300 is quite a lot.
Perhaps a x300 pump takes more than one market cycle to correct.
And there are many other coins that are showing the potential to be in a multi-cycle bear market.
There are plenty of newer coins that also exhibit a similar bearish potential.
These are dumb money traps for those "trading" with a hold & hope strategy.
And so this cycle brings about death of the easy gainzzz; diamond hands to riches mentality.
We're into month 30 since the Bitcoin low and the vast majority of hodlers will now either be deep underwater or entirely rekt.
Cycle gurus have done a great job of corralling dumb money to throw their hard earned / inheritance etc at markets of which the dynamic they do not really understand.
A core belief was that the cycle would be around 35 months again (probably wrong).
And so by month 30 every humpty dumpty hodler should be filthy rich and boasting to all their friends of their genius.
Its been an incredible multi layered trap - both technical and psychological.
Of course there have been big winners this cycle.
But the days when the hodler would believe they are trading shoulder to shoulder with hard working technical traders are gone.
Its time for a reality check to realise there are no passive gains.
They dont exist.
But there are plenty of traps and scams.
One difference is that there are many coins that may well be locked in a multi-cycle bear market.
THETA is one of those coins.
In the previous market cycle it did a x300.
At that time I predicted it would dump 95% to reach a sub $1 target.
I received quite a lot of ridicule for this thread that I will link below 😅.
And of course after a x300 bull market, THETA became a hype coin and attracted plenty non-technical "crypto investors" to buy in the belief that this type of price action would happen again.
But corrections can take time and x300 is quite a lot.
Perhaps a x300 pump takes more than one market cycle to correct.
And there are many other coins that are showing the potential to be in a multi-cycle bear market.
There are plenty of newer coins that also exhibit a similar bearish potential.
These are dumb money traps for those "trading" with a hold & hope strategy.
And so this cycle brings about death of the easy gainzzz; diamond hands to riches mentality.
We're into month 30 since the Bitcoin low and the vast majority of hodlers will now either be deep underwater or entirely rekt.
Cycle gurus have done a great job of corralling dumb money to throw their hard earned / inheritance etc at markets of which the dynamic they do not really understand.
A core belief was that the cycle would be around 35 months again (probably wrong).
And so by month 30 every humpty dumpty hodler should be filthy rich and boasting to all their friends of their genius.
Its been an incredible multi layered trap - both technical and psychological.
Of course there have been big winners this cycle.
But the days when the hodler would believe they are trading shoulder to shoulder with hard working technical traders are gone.
Its time for a reality check to realise there are no passive gains.
They dont exist.
But there are plenty of traps and scams.
Note
Here is the THETA crash prediction I made exactly 4 years ago in May 2021 when everyone was looking up to the stars✨ 
Note
If you are a hodler reading this; imagine how different your situation could be if rather than look for "get rich quick" ideas, you treated the market with respect...And rather than blindly donate your hard earned money to the market, you instead educated yourself to have awareness and skill to manage your investments 🤔.
Its never too late to turn a new leaf ✨
Note
This isn't my usual type of content and it is a little harsh, but the point is to wake you up. Ye reap what ye sow and if you sow laziness and greed then ye reap getting trapped and rekt ☠️.
If you enjoyed this thread then hit the BOOST and more THETA hodlers will see it 👍.
Note
One commenter made quite a provocative comment that must have been removed by mods and I think perhaps because he mentioned something that would be against house rules.And so I won't mention that thing, but he suggested that after this THETA bunce today, this is now a failed thread.
But what I would suggest is that this is a high time frame call and even a very large bounce on one day isn't going to change that THETA is down 80% this year and 96% since ATH.
THETA is in BIG trouble this cycle and anyone that bought it is losing their money and that may continue down and down.
Bitcoin is roaring today and THETA is having a pop, but there are plenty of other coins in a similar situation looking dangerous.
Here is VET on the week chart:
Even with this Bitcoin pump action it has still had a bearish slump today and going nowhere in high time frame.
I think there may be a bearish wave in the pipeline for the market and this would be in reaction to a bearish wave for stock indexes to complete 3 wave crash structure.
Its not determined yet and there are bullish possibilities also , but we may see stock indexes in the news for bearish reasons soon enough.
So if THETA and VET are weak while Bitcoin is bullish, what do you think is going to happen to them if Bitcoin prints another bearish wave?
Obviously there is a good chance they will tumble down and down bearish.
I will make a TradingView Video shortly on VET and link it to this thread 👍.
Note
Here is a video I made on VET today 
Note
Its been a pleasant bullish area and Bitcoin may well make a new ATH.The most dangerous coins - meme coins have been pumping with dogwifhat and Pepe up around 50% over the last few days.
And ETH also making some positive moves.
But in higher time frames this positive action will likely lead to more significant bearish action.
THETA has made a reasonable 35% bounce and you might look at that percentage and believe that the bull market is about to begin for THETA.
But relative to the chart, the bounce is very small after an 82% dump since December:
What I'm showing on the chart is somewhat basic wave structure.
- Trend down (bear market - arrow 1)
- 3 wave corrective continuation pattern.
- Trend down (arrow 2) - next major wave down.
Watch my VET video (above) for further details - THETA and VET have similar charts.
And so if you've put your hard earned / inheritance etc into THETA believing in fundamentals, or the opinions of your favourite YouTube gurus etc but neglected to learn technical basics, then that has been a fatal error of your failing investment(s) and also why you have not had success in picking strong coins.
This reality really highlights the greed or traders; especially those putting in large amounts that are not easy to regenerate.
Because the opportunity to learn of market dynamics has always been there, but greedy traders have no time for this.
They are out on the road with no license; heading for a crash and significant injury.
Of course I could be wrong but THETA chart is not at all a difficult read.
And if stock indexes have another wave down which I think they will, then Bitcoin will get dragged down and of course weak coins like THETA will likely capitulate down and down.
In case you didn't realise the S&P500 is very close to the ratio that the first major bounce topped at in the 2022 - 0.76 before the next wave down of bear marekt.
But that was a bullish cause building bear market.
This is a very different and devastating bear market with impulsive downside, so if the next wave down arrives, it will likely drag down crypto, as it did from December when THETA lost 82%
What you're seeing in this current area might just be the last bounce in crypto before the next major wave down.
And when it happens I'll be short stock indexes
And when it bottoms i'll be looking to buy crypto dips.
But I doubt I will be buying THETA when the stock market bottoms, because THETA was a strong coin last cycle when it did a x300.
This cycle it is a technically weak coin.
It really doesn't matter at all what partnerships or listings are in the pipeline for THETA because these coins charts can have enormous high time frame swings from overbought to oversold and vice versa.
And if you're reading this, then likely you are much further down the food chain of information.
By the time you become aware of positive fundamentals, that positive price action is likely to be already baked in the cake.
It happened already - perhaps in that x300 last cycle.
And this is obviously by design to trap non-technical traders that see pump action and believe the gravy train must return every season.
But it doesn't work like that because these markets are intricately and purposefully designed for traders to lose their money.
If they simply moved up and down on positive and negative fundamentals then this game would be easy.
You might do well to have a think about that for a moment and let that reality sink in.
There is a complex cat & mouse technical game, that if you dont have some skill in then you are the mouse and you are donating your capital to the market.
As I said, this is a game of picking strong coins.
Days of hodling coins are over.
This bounce could go a bit higher but whenever S&P starts heading down, coins like THETA will likely lose big percentages again.
Note
Don't forget to BOOST if you like this type of contrarian thread and more hodlers will see it 👍
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
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.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
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.