An important trend line was recently broken, only to confirm that the plunge is over. As you can see there are two important levels that are designated in red. If THETA manages to flip the first resistance zone into support, the commencement of an uptrend in my opinion is confirmed. Volume is strong, and MACD is showing a divergent sign. RSI has room to grow to confirm a catapult above the resistance zone. I am on the lookout to open a trade on the retest of the resistance zone turned support to open a trade with a good R/R. This trade could procure a profit to the tune of 80%. With proper risk management, this trade could turn out to be life-changing, IMO.
Note
Price action is struggling. I am waiting for a shift in momentum.
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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.