THETA: SOON TO BREAKOUT.
Hello traders, here's an update on THETA in BTC pair for spot trading.
Timeframe: 8 hours.
Update: Theta token has been a deal breaker for traders in the BTC pair. If you do the backtesting then it has given 40% to 90% profit on the spot. I understand that Theta is under a descending triangle formation and technically it is a bearish pattern but only when it breaks down below the support. If it breaks above the resistance then it becomes a trend reversible pattern.
Here's a trade setup if THETA/BTC breaks above the resistance level.
Entry: 550 sats to 560 sats.
Stop loss: 513 sats.
Target 1: 596 sats.
Target 2: 632 sats.
Target 3: 671 sats.
Target 4: 714 sats.
Note: We will enter this trade only after the breakout. If you wish to leverage trade use 2x to 3x leverage in BTC pair.
Timeframe: 8 hours.
Update: Theta token has been a deal breaker for traders in the BTC pair. If you do the backtesting then it has given 40% to 90% profit on the spot. I understand that Theta is under a descending triangle formation and technically it is a bearish pattern but only when it breaks down below the support. If it breaks above the resistance then it becomes a trend reversible pattern.
Here's a trade setup if THETA/BTC breaks above the resistance level.
Entry: 550 sats to 560 sats.
Stop loss: 513 sats.
Target 1: 596 sats.
Target 2: 632 sats.
Target 3: 671 sats.
Target 4: 714 sats.
Note: We will enter this trade only after the breakout. If you wish to leverage trade use 2x to 3x leverage in BTC pair.
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