Cosmic Bands are useful for determining how far the price will keep rising (or falling). In this case the price of THETA is experiencing exponential-like growth on lower timeframes and it's not clear where the final peak will be.
To estimate the peak, we add the Cosmic Bands indicator as-is, turn on the `log` and `auto` chart settings and find a relatively high timeframe (here it's 1M) where the price approaches the indicator's R5 level. This level equates to the upper plot of a regular BB indicator when the StdDev setting is set to 4.5.
It appears that the price is approaching R5 (a common peak level) which on this timeframe is about USD 14.5. But don't let this be your only guide! On a 1W timeframe, the R5 level is at about $18, so check several timeframes at once and make your decision accordingly.
To estimate the peak, we add the Cosmic Bands indicator as-is, turn on the `log` and `auto` chart settings and find a relatively high timeframe (here it's 1M) where the price approaches the indicator's R5 level. This level equates to the upper plot of a regular BB indicator when the StdDev setting is set to 4.5.
It appears that the price is approaching R5 (a common peak level) which on this timeframe is about USD 14.5. But don't let this be your only guide! On a 1W timeframe, the R5 level is at about $18, so check several timeframes at once and make your decision accordingly.
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🚩 Disclaimer: the information created and published here is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors
👀 Watch on TikTok: shorturl.at/gzAPW
🚩 Disclaimer: the information created and published here is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors