THETAUSD trade ideas
Theta Hit Our Downside Target of 20% — Now What? :) Recently we projected a 20% drop for Theta... and we nailed it.
Check out the replay at...
The 20% drop for Theta was not negative at all. It establishes the previous resistance as a strong support, providing a launch platform for Theta's price appreciation in the weeks ahead.
Due to the negative MACD momentum it may take a few candles for Theta's price to turn back up, but traders will certainly be looking for entry points.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Distribution Fear Zone Analysis.The chart describes fear levels and possible inverse head and shoulders pattern. White circles identify distribution zones and the projection of the future distribution and the following uptrend. Otherwise, if fear level is broken, THETA is likely to go down as it will break all key small time frame resistances and larger daily resistance.
Theta Looking Heavy — 20% Drop Incoming?The current 2-day candle is attempting to covere the previous 2-day candle, known as a dark cloud cover.
If it does by close of the candle tonight, it's a fairly bearish formation suggesting the chart would still technically benefit longer-term with a further price drop. Touching around 55 cents would confirm the previous resistance level as support.
So a 20% drop from today's price is more than reasonable as per the current price action.
- Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Theta needs a decent correction, could be hugeThis has been in an uptrend for months on end, it needs to correct in order to go up again. Do not fomo buy
$THETA looks like it's gearing up for one last high after allThis will probably be the last opportunity to short the top of the 6 months uptrend.
THETA/USD looks like it might breakout of its downtrendDespite the clear downtrend, it looks like THETA/USD is searching to push higher. If it can break out of the downtrend, there will be a solid long entry.
LARGO - THETA - Oportunidad de CompraFTX:THETAPERP ha rotado todos las resistencias hasta el momento y ha formado un fondo redondo, lo que nos indica que esta en camino a las viejas resistencias alrededor de ~0.4, incluyendo que el par contra el BTC tambien se ve muy alcista, abriendo sobre el MA50 a 12h y casi en la nube diaria en la gráfica diaria.
Entrada: 0.28610
Objetivo 1: 0.3558
Objetivo 2: 0.40130
SL: 0.27075
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XRP OMEGA MOON FRACTAL TO 0.55 BY YEARS ENDAs you can see Weekly XRP has the same rounding pattern as with the 2H Theta chart
From an elliot wave standpoint as swell we see a termination of a complex wxy correction with X formed as a triangle(altho a bit deformed for theta due to binance scam wicks)
If we are correct we should see bottoming of price for XRP in 6-8 weeks followed by a impulse rally to take out 2019-2018 highs.
I'll be planning to sell some at 0.50 cents personally if we get there. Invalidation if we break the march low
Happy trading
Cup and Handle ready for the retestAlthough there isn't much data on Theta on FTX, a nice Cup and Handle has formed with a retest of the neckline initially failing to penetrate although it is still looking like it might with a Bullish Engulfing and the Daily candle almost closing. Volume has subsided in the middle and increased as price returned to the neckline. The measured move takes it to 0.30610 sats and with BTC looking a little bearish for the time being on an intraday chart and many other alts having a pump, it looks like it could be Theta's turn.
The neckline is a very strong resistance though with this being the fourth attempt at breaking it. The 4hr time frame showing an increasing OBV with price ranging and being held by the day 10 MA. A Bullflag has also formed on the 1hr with some higher than normal volume.
Entry, stop loss and exit have been added onto the chart!
Let me know in the comments if you agree/disagree... Don't forget to follow me on Twitter @BeerCanCapital
THETA/USD- Can we ever trust Theta again? Many would have been bitten by Theta and Theta Fuel buying in late and getting destroyed by the dump.
As the dust clears is there a potential entry opportunity presenting?
We've now tested this support several times, question is, further retrace to meet the 200 SMA or will it turn around and head North.
Few % below current would have me interested.
Keep an eye on on this setup in the coming days and see how it plays out.
Can't see a great move presenting just yet but watching more closely due to the consistent retest of level.
As always,not financial advice, just thoughts and TA.
Bingaz.
THETA/USDT 0.618 relief rally, Short term LONGShort term trade, relief rally from the 0.618 retracing to the 0.5 of the move down.
ENTRY: 0.246
STOPS: 0.194
1st TARGET: 0.413 - Take 60% off here, move stops to break even and enjoy the free ride on the house ;)
Never Trust. Verify.
DYOR. Not Financial Advice Just an Observation.
Always remember: technical analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Theta - supportTheta back to support. Longer term trend line and horizontal support at .25 - .26. Stop loss just under support.
