THETAUSDT Short-Term Trading Plan
After the rally and the dump of THETAUSDT, it went up to 0.3 ish and now is likely going to form a simple A-B-C move. It dropped from 0.3 to 0.2 and then pulled-back all the way to point B at 0.65 Fib retracement level. With the Fib extension from the top to the bottom, it could be a good opportunity to long if it drops to 0.65 level at around 0.2 ish, which is also the previous low and the support pivot. However, make sure to check other indicators like RSI to make sure it's at oversold levels already before getting into any positions since THETA can also drop all the way to 1 to 1 level at 0.165 ish. I do expect a bounce at 0.165 ish since many indicators are already approaching oversold levels on multiple time frames, and we do have a support line that's formed all the way from the bottom on March 12th. Thank you, guys.
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.