#Theta token is consolidating in a bullish continuation pattern- pennant.
Currently at the trendline support at 3320
Stoch-rsi is showing oversold levels
ADX is at 10: weak/no trend.
If we get a break above the resistance line of the pennant and confirmation from volume then
a nice R:R trade setup will be generated, with stop below 3300 ...
We've seen the development of a nice bull flag/pennant over the past few weeks, but it remains to be seen whether this is indicative of things to come. If it has the momentum and influx of volume, I could see THETA testing the strong resistance trend and perhaps breaking out of established channels.
actually im holding theta for long term but tryin to increase the number of theta by trading . I think there is a chance to do that because there is an ascending triangle formation. For that formation the price expected to increase very quickly / sharply
I will try to make profit from in-trend-line-theta. Green area is buy zone. Red area is sell zone as you know :) Its about %9 profit
dont forget to use stoploss just under support line
Theta looks like it might complete a Cup and Handle. If so it is near the bottom of the handle now. Could buy around 3300 with a stop around 3270 and be relatively safe.
Theta is currently following a downward, narrowing channel. If BTC can hold it's current position, there is potential for a nice breakout of Theta soon.
After completing its elliot correction wave sequence THETA BTC has broken its descending triangle and had a golden crossover on the MACD, still room to grow on the RSI also.
Theta is brand new on Binance hence the 30 min chart. Its a solid project and i think it has much more room to grow.
My targets at the moment:
1. ATH of 4000
2. 1.618 fib 5000
3. Open...
