$THETA - 2D Elliott Wave UpdateSomeone asked me for a $THETA chart yesterday and I found the chart very interesting in that there is a decent case for this correction being done, but also a nice strong support not too far off (approx -20-25% down)...
I drew the support line blue and its just below the red price line. If we don't make a new low, we could bounce here at any moment, but I prefer to keep all options open. Its never a good thing to not see other options.
Safe trades to all.
THETAUSDT trade ideas
THETA - buying areaTHETA is that coin that's respecting EW channeling a lot. It's every macro move is in a channel.
We have confluence in the horizontal support are and the falling channel. You have two scenarios:
1. Wait for the drop to the support at $0,7
2. Wait for the breakout of the channel
All depends on your risk tactic.
$THETA Bull Market ScenarioTheta is about to breakout from this high time frame falling wedge.
The targets I plotted are for mid term holds and if we are back in a bull market.
I still have no confirmation if BTC is entering the bull market so better just DCA since this level is a nice discount zone for those who want to hold this coin.
THETAUSDTTHETA/USDT on both the daily and the 15 min, there is a brutal oversold with RSI below the neutrality level. In the diary, a triangle was formed where Theta is already in the narrowest part, graphically indicating an upward rupture. The volume of this pair is very high and Theta is a high-octane coin as it will be the first blockchain to run 4k streaming. Impulsive kick in sight!
THETAUSDT 4HProjecting a trend-based Fibo retracement we have a resistance at $1,303 which is confirmed with MM200 and then $1,378. We are in an overbought region and can visit the $1,048 level, making a triple bottom (We made a double double bottom on July 13, 2022 and September 7, 2022.) before going for the respective resistances. if the LTB (downtrend line).
THETA is undervalued, out of its fair price. Theta is a native blockchain with an open source protocol, which means it allows developers and partners to build decentralized applications on the network, like Ethereum does.
It is a decentralized peer-to-peer video delivery network powered by blockchain technology that enables free delivery of high-bandwidth content. As users watch videos, some of their computing power is leveraged to relay those videos to other users, with top users earning tokens as a reward.
THETA usdt Risky businessbtc is doing it's thing so no trade is safe today.
however, theta has a nice setup.
i will look for a long at 1.111
and i will exit at 1.219 at about 10% profit.
since this is clearly a very dangerous trade,i will set a stop loss at 1.085 which is less than 2.5%.
i wont wait for candle closes,simple stop loss order because btc is not acting normal today
since the risk is small,i will use 2x on this one
also,aion from 4 hours ago did great so we some money to spare.
FOLLOW FOR MORE!
THETA/USDT is looking interesting! Hey guys,
Another coin that we will talk about is THETA Network. We see from the pattern of the chart that the coin is waiting for some major movement to be happening but it is waiting for some kind of confirmation! We have two scenarios here for this coin
First one being securing $1.27 zone and going for another try to that upper line of the sideways path, which is $1.47 zone.
Second one is that Fed will make a market to collapse and Theta will go to test the lower line of sideways path which is $1.08.
What is your opinion on this coin?
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Swallow Team 🔱
Disclamer:
We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.