THETA/BTC (Back at Key Level Support)💎Technical Analysis Summary💎
BINANCE: THETABTC
-THETA is back at the previous support key level area
-This is crucial at this moment if this zone will hold
-If we can not see any recovery back to 5500s sat in the next few days
-It would tell us the Bulls has started weakening
-And any moment the Bears can still enter the market
-I don't recommend buying at this point if you don't follow proper RM
-But if you are looking to Short the market, wait until the support is broken
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THETABNB
THETA/BTC (Hits Daily Key Level)💎Technical Analysis Summary💎
BINANCE: THETABTC
-THETA hits the key level of support around 4700s sat range
-The daily candle is not yet close but it is looking a bit bullish
-I'm not saying this will pump the next day
-But only showing a little strength at this region
-Better to wait for the next candle pattern
-Before making your decision to enter or not
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THETA/BTC (Retest Important Key Support?)💎Technical Analysis Summary💎
BINANCE: THETABTC
-Theta Token failed to create a Higher High
-The price rejected at around 7000s sat area
-It will likely to retest the key support area around 6200s sat
-That would be a sign of weakness and the Bears might enter the market
-So please be cautious buying at key support
-Use proper stop loss location and follow your trading plan
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THETA/BTC (Testing Important Fib Resistance)💎Technical Analysis Summary💎
BINANCE: THETABTC
-We can see multiple rejections at the last Fib resistance area
-And Theta Token is trying to break above 0.786
-This is Bullish if the daily candle closes green
-Provided it can hold above resistance area for at least 5-7 days
-But I don't want to be optimistic at this level
-Because of the warning signs like RSI, price action, low volume, & pattern
-Yes, the price may still increase by up to 16%
-But on the risk to reward perspective, it is not good
-I would rather wait for a trendline support retest
-Before looking for a Bullish/Bearish trade idea
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THETA/BTC (Sign of Weakness?)BINANCE: THETABTC
-Theta Token is trading inside an ascending channel which is Bearish
-And a potential Bearish Double Top reversal pattern
-The pattern still unconfirmed until the base neckline is broke down
-Also, the upward trendline of support still intact
-If you have a swing position from the start of its uptrend channel
-Please take profit now and move your stop loss at key levels
-Because can see signs of weakness especially the RSI and low volume
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THETA/BTC (Retest Swing Low?)THETA/BTC
-failed to hold previous support at the 2600s
-the price is testing the immediate area of support at the 2370s
-if this minor area of consolidation fails
-we will likely see a retest of swing low at the 2100s
-it will be a good bounce trade setup if a reversal is confirmed
THETABTC breaking new highs!I know it's been a while since I've posted a publication...needless to say I've had my hands full.
I don't want you guys to miss out on this signal or have to FOMO/FUD -- and those familiar with my previous publications know I have a tendency to go on a tangent (though educational!) at times...but I'm afraid that'll have to wait for now!
I will update later with a detailed OPED including where I've been, what I've been up to, what I'm doing...my thoughts on the BTChalving, and more.
As usual green horizontals represent TP1-3 & the most important OFC: the red === stop-loss.
Peace & Love.
-MT
Disclaimer
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Who's making money?? Raise your hand if your short! INTERESTING!Hello Everyone,
Welcome to the latest update on Theta/BNB 4 hr chart. This is currently a very interesting chart and there is a lot to discuss. We are showing SEVERAL signs of the bears reigning command. Currently we are entering/dropping into the upper level of the major support zone (green box). Where this chart starts to get really interesting is that. there is A LOT going on within this zone. As you can see, there is an "M" pattern in purple, this is a double top formation which, is typically a bearish sign. There is also a head and shoulders pattern shown in yellow and this portion shows the potential of the pair dropping down into the 0.00730 range. The neckline of BOTH the head & shoulders and for the "M" pattern all fall extremely close to the same level which is between 00820-.00840. There is a very large descending triangle pattern which starts on Feb 26th, when I forecast it and extended it out, it lasts through roughly April 20th.
Where this portion gets even more interesting is, the lower bar of the triangle also runs precisely with both necklines at 0.00803. But wait there's more!!! Just before the right shoulder forms there is a bear flag that shows the flagpole (black dotted line) extending down to around 0.0829. I do not foresee a drop that low happening but, it is definitely something I will keep in the back of my mind just in case something dramatic happens, All of these patterns fall within the upper portion of the major support zone range so my opinion is, even if this pair drops below the necklines etc., it still drops into the major support zone and, as long as it holds, this will be a good time to fill long bags. Also, for people who like long positions take a look at the green circles on the bottom. Those green circles have been entry point markers for long positions.
From here we will have to wait for more signals on the direction of travel, we haven't broken below the necklines, or the the lower bar on the triangle, however, we are very close!. Currently the bears have the ball in their court helping out the short trade side. My signals are showing me a stop loss of 0.01026 for shorts.
The volume has slown down and volatility is minimal on the bollinger bands and the pair currently trading on the lower band. The RSI is neutral at 42, Stochastic is on the oversold side at 21. Theta/BNB is also below every single moving average.
The bears are still here so use caution and do your research before long trading, or any trading for that matter. If you found this information helpful or useful please hit that like button and let me know you were here!
Good Luck and Happy Trading!
AWC
**This is for EDUCATIONAL PURPOSE ONLY and is not meant to be buying/selling advice.*
Theta/BNB rallied for a 21% Profit. Hello Everyone,
This is an update to my last idea which is attached below. After watching the trends I decided to make an entry at the areas in green circles which were labeled possible entry point forming on my last Theta/BNB chart. This was an accurate label which is where I entered. Theta just currently shot up for a nice little quick flip rally giving a 21% profit. Exit position labeled in red.
The overall mood on the 4 hr chart is currently still in a red down trend so I have already put in for my next position which is roughly around 0.00900. I will adjust accordingly if needed but, I currently like .0900 for a long position because it has been trending back to this area and lower, on average, after rallies. Prior to February 24th it liked this area as well. The current 24 hr low was .00863 so we shall see!
The trend is still favoring you short traders.
Long Positions are not advisable at this time, in my opinion, unless the bulls are able to take over. This appears to be a rally and the bears are still very much in control based on my trend indicators. It is riding above the upper bollinger band with the supporting volume, however volume at the time of riding this is starting to fizzle out, but not by much. Theta is also currently above all of the moving averages.
RSI is at 71, Stochastic is at 87 which are both on the overbought side of the line.
This rally could be because of the news building up to the main net release on March 16th and, the 1:5 token drop of Theta Fuel that's being supported by the exchanges. I say this because Theta just RAPIDLY powered through the major resistance area AND the upper descending triangle with the next target a long way away at the 1.618 fib.
At this point I have closed my previous position and have re-entered. As of now I will go back on the sidelines and wait for my next play.
Please hit like if you found this information useful or helpful!
Good Luck and Happy Trading!
AWC
**For educational purposes only, this is not meant for any buy/sell advice.** I truly enjoy technical analysis and sharing my thoughts/ideas with others!