THETA Ascending Broadening Wedge
On the week, THETA is in a Symmetrical Triangle and on the basis of the Bollinger Band we can see that the volatility has decreased and so we have to wait for a solid movement. perhaps the *Theta version 3.1.2 release, which will run at block height 12,749,952, at the latest somewhere next Sunday at 6pm Pacific Time, will take care of that movement.
On the 2 hour chart, the course is during the ride to the Cup n Handle target (very lightly marked)
ended up in an Ascending Broadening wedge whose dotted line is the 100% price target (about $6.40).
Because there may be a hidden divergence, the price could give a small rebound, which could possibly be a re-test on the decline in the pattern. Should this play out, a Head and Shoulder pattern could arise which doubles the decline.
Don't forget that we are looking at the 2 o'clock here and that we are heading towards the ridge of the Symmetrical Triangle just mentioned on the week.
a drop would mean looking at the bottom of the triangle again. In case the bulls react so strongly to the just discussed hidden divergence, that could be an attempt 2 to get through the resistance of the symmetrical triangle.
Keep calm, trade safe and manage your risk.
(Disclaimer: This is not financial advice)
