Are You Still Looking At The BTC? While Theta Is Breaking All Records And Setting New All Time Highs

By moon333 | moon333 | 18 Jan 2021


 

Bull flag formation:

In the US Dollar market, the price action of Theta has formed a bull flag. Here the priceline is re-testing the exponential moving averages with the time period as well. And if the priceline breaks out the channel that has been formed within this flag then it can reach $3.5 easily.

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Cup & Handle move:

On the daily time frame chart, with the Bitcoin pair, the price action of Theta has completed the formation of the Cup & Handle pattern. Now it has also tested the support of 100 SMA and the 50 SMA has formed a bull cross with 100 SMA as well. If we take the measurement from the breakout point to support and place it at the breakout point or resistance of the Cup. Then our next target can be 0.00011755 btc and if the price of BTC will be $35000 then 0.00011755=$4.

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Ichimoku cloud and Rising Wedge:
On long term weekly chart, the price action of Theta with Bitcoin pair has formed a rising wedge pattern and also broke out the Ichimoku bearish cloud as well. The cloud is now bullish so we can expect that the priceline might make another attempt to break out the resistance of this cloud. 

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Conclusion:
The price action of Theta is setting new all-time highs in every rally. Now we can expect another rally that can be 100% up from the current price level.

 

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moon333
moon333

Hi, My name is Atif Akbar and I am a trader and trading charts author


moon333
moon333

Hi my name is Atif Akbar and i am trading charts author of different assets like crypto, forex, commodities, CFDs Stocks e.t.c.

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