Hey everyone. THETA is a coin I've researched a little although I'd like to research more. So far I'm very interested and I know there is a strong community here of supporters.
This chart is not intended to be as accurate as the others I usually post BUT what I do see here is BIG TIME POTENTIAL! It looks like it's on the verge of a breakout right now with potential to complete a giant Inverse Head & Shoulders pattern along the way.
The MACD is right in the sweet spot on the 4HR, DAILY, AND EVEN THE WEEKLY. If THETA can break upwards past the green resistance area then the MACD will be more confirmed because right now it's turning up just above the 0 line which is usually very good AS LONG AS THE UPWARDS MOMENTUM continues and BULLS CAN REALLY GET A HOLD here.
Like I said, I don't have as much confirmed information as I'd like to have right now but as the chart progresses, more data will become available to analyze. The MACD looks promising though, combined with the current bullish market.
ITS DEFINITELY ONE TO KEEP AN EYE ON and you can decide for yourself whether to buy and where to buy in. I put a couple ideas on the chart. Hopefully this green resistance gets broken here in the short term and then the situation will look much better and I will have more confidence in it playing out.
What do you guys think?
I'll have some more charts up in a bit. Its the weekend so I DON'T EXPECT BTC to do much besides sideways action, HOWEVER we are overdue for one of those ODD weekends where it happens and creates a CME gap... that's another story
Anyways, hope you like it. Take care.
This chart is not intended to be as accurate as the others I usually post BUT what I do see here is BIG TIME POTENTIAL! It looks like it's on the verge of a breakout right now with potential to complete a giant Inverse Head & Shoulders pattern along the way.
The MACD is right in the sweet spot on the 4HR, DAILY, AND EVEN THE WEEKLY. If THETA can break upwards past the green resistance area then the MACD will be more confirmed because right now it's turning up just above the 0 line which is usually very good AS LONG AS THE UPWARDS MOMENTUM continues and BULLS CAN REALLY GET A HOLD here.
Like I said, I don't have as much confirmed information as I'd like to have right now but as the chart progresses, more data will become available to analyze. The MACD looks promising though, combined with the current bullish market.
ITS DEFINITELY ONE TO KEEP AN EYE ON and you can decide for yourself whether to buy and where to buy in. I put a couple ideas on the chart. Hopefully this green resistance gets broken here in the short term and then the situation will look much better and I will have more confidence in it playing out.
What do you guys think?
I'll have some more charts up in a bit. Its the weekend so I DON'T EXPECT BTC to do much besides sideways action, HOWEVER we are overdue for one of those ODD weekends where it happens and creates a CME gap... that's another story
Anyways, hope you like it. Take care.
Note
THETA is attempting a short term continuation here. I would prefer it to hold the 0.786 level which is around $8.00 however the 0.618 level is at the $7.70 area which is where the green support bar is drawn. A pattern that a lot of coins have been doing lately is breaking out, continuation off the 0.618 and then topping out at the 3.618. IF THETA can also pull this off that puts our target at around $9.90. If we reach this area I'd highly consider selling unless you want to HODL which is perfectly fine but IF $9.90 is hit, Expect a 15% pullback to the $8.50 area followed by a couple weeks of consolidation before POTENTIALLY going higher. It would be this pump that can likely get us up to that 90% gain area near 14$...IF THAT ALL PLAYS OUT. IT'S AMAZING! We'll reevaluate from there to see if ATH's are a possibility.
Good Luck to all of you. Will update as necessary.
Note
So I have my stop at 7.68... It'll give me small profits if it triggers and it IS starting to look likely. However I DO think that this coin is getting ready to break to the upside for big gains as I've said. The chart is a bit messy and hard to identify levels that's why I've removed the wicks on this one. Like I said I DO believe this one is about ready but VOLATILITY is likely to pick up . If my stop triggers, I'll take small profits and look to reenter at the 7.50 or 7.30 area...
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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.