Yesterday night I analysed THETA and came out with a prediction that to buy and to hold was what the charts were saying. This was what I wrote yesterday. In fact I added to my THETA walled based on my analyses.
THETA NETWORK Do I buy / sell or hold Theta?
The price of Theta was 2.07 when I wrote that post. Today the price now stands at 2.21, a whopping 6% increase in a day. To pretend that this was anything but sheer chance that this happened in one day would be absurd. But it does feel good to have your analysis confirmed by price movement. But is it only the technicalities that are driving the price up? Are there any other causes?
It turns out there is more to this. Bitcoin has been pumping. And as I mentioned before, Theta does tend to follow the market general direction. Three months ago, Theta pumped on news of technological advancement, specifically 3D rendering job additions in a Edge Node upgrade. However this jump is well within normal market fluctuations for crypto. Let's look at the current chart and decide what we do.
As we can see it has climbed a bit steadily be we can see a small loss of momentum. What I would do is decide on my exit price on the way up, and when it reverses and comes and touches that point, I would sell. However, I have lots of holding power and I believe that by holding on for a couple of months you can garner far heavier profits.
As always, time will tell, so I won't be jumping in again tomorrow, but maybe in a couple of months to see, "Theta, whither willst thou go"
Disclaimer: This article (by me, Rumjus) is for informational purposes only. It is based on my personal (and anecdotal) experience. None of the content is financial advice. Readers are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks with crypto currency (and any other) investments. I am not liable for any financial losses you incur. Cryptocurrency markets are highly volatile and the possibility of investments tanking is higher than traditional investment instruments. The cryptocurrency space is also riddled with scams and actors with nefarious intent, so the possibility of losing your money is very real. I am not liable for any loss you may suffer.
