Theta Printing Large Bullish Flag. Theta has shown strong support at .618 of the fib Channel. This is your ideal time to buy more. I expect Theta bounce once more off the top of the Flag and retrace, but not to the lower part of the flag. Once retraced, theta will break through and continue on its bullish trend. This may take a couple of weeks to play out.
With Theta releasing and all things pointing to the fact that TFUEL will be the main swapped currency and not THETA. The reason for this is fact that THETA will be prioritized for focusing on staking the network. TFUEL on the other hand will be prioritized for pooling and the fundamental currency of the network. So there are 3 things to note...
Theta has been keeping up with BTC during this Bull run. As BTC.D starts dropping will Theta be able to break away and create a new channel. We have 3 things to observer here. All very Bullish. Large Channel: Local Channel: Bullish Pendant:
Here are the Fibonachi levels for a logarithmic view of Theta. Ever breakout since the First breakout, every following breakout has lost a little steam and has not hit the same height of fib growth. This breakout is targeting .5 Fib and looks to be rejecting the channel mentioned in the link below, so may not even make it. Also note that if we do get rejected...
We have broken the downward trend and have formed the bottom of this cup. Look for handle to form around .80, then an upwards trajectory to about 1.15 I expect we will see some hesitation around a dollar, but I doubt that will cause too much of an issue, but maybe another handle like formation then up we go. See previous analysis of theta linked below.
Some time in the near future TFuel is going to have a 100+% gain. It is going to cross upwards and take off. Descending triangles are more often seen as bearish, but do breakout upwards. See BTC chart after it broke out of its long descending triangle. I see this playing out similarly. Additionally, with the success of how things are going with Theta, it is...
As much as I wish wishful thinking worked, it never makes me money. Theta hit the target. If it drops below the black line this is my expectation of how things will play out. Overall I am still bullish on the project and am still holding. If this ends up true. I will sell my theta and buy back in at a lower price.
Here are my thoughts on the equivalent of the BTC Rainbow. Either way, it is easy to see the key support and the overall upward momentum. The purple line is your neutral line.
Target Buy price is around .255 then large upside to finish out the cup and handle mentioned below. Short in the short term but overall bullish. Indicators brought to you by Jackrabbit.
We have a target between .74 and .76 Forming a cup and handle formation. That could be the third leg of an Elliot wave. Things are looking bullish.
See about a potential of a 8-10% rise before deciding on a direction.
BINANCE:BTCUSDT I am not a financial advisor these are just my thoughts and market predictions. We are under the sma60 on 15 min candles. We entered a flag bear flag and will see correction till about about $8000. Overall I am Bullish, but we need to see some correction before people start buying back in.