THETA Network (THETA 1W) Weekly reversal ?
Hi
It’s been a while since this coin is ranging but I think that now is the time to take a look back at it:
The chart seems to have form an Inverse H&S which is not confirmed yet. It will only be confirmed when the price close above the neckline of the pattern with convincing volumes.
I put an alert on it at 0.1127$.
If the breakout occur the final target is the first visible resistance above set at 0.1463$.
Regarding my indicators:
- the RSI is in an uptrend after marking a W reversal with a successful retest
-The price is above the 20 and 50week EMA but below the 100week EMA which act as resistance for the moment.
- The stochastic is pointing at an upward momentum.
To me this asset is a BUY if the price remains above the weekly support line (0.1019$).
Disclaimer: This is not financial advice as I’m not a financial adviser. Everyone is wise to manage their own risk properly when considering any trading decision or activities.
It’s been a while since this coin is ranging but I think that now is the time to take a look back at it:
The chart seems to have form an Inverse H&S which is not confirmed yet. It will only be confirmed when the price close above the neckline of the pattern with convincing volumes.
I put an alert on it at 0.1127$.
If the breakout occur the final target is the first visible resistance above set at 0.1463$.
Regarding my indicators:
- the RSI is in an uptrend after marking a W reversal with a successful retest
-The price is above the 20 and 50week EMA but below the 100week EMA which act as resistance for the moment.
- The stochastic is pointing at an upward momentum.
To me this asset is a BUY if the price remains above the weekly support line (0.1019$).
Disclaimer: This is not financial advice as I’m not a financial adviser. Everyone is wise to manage their own risk properly when considering any trading decision or activities.
Trade active:
This one was a tough one to follow last year.
The descending triangle is clear on the weekly time frame with not one but 2 false breakout to the down side...
Now that we are back working on the upper downward trendline I speculate that there is a high probability for an upward move.
This one was a tough one to follow last year.
The descending triangle is clear on the weekly time frame with not one but 2 false breakout to the down side...
Now that we are back working on the upper downward trendline I speculate that there is a high probability for an upward move.
Trade active:
Take profits time
this market is like a surgeon always retesting.