#Theta is ready to move higher - Top of range $7.20 incoming.
Hey Guys,
420 Investments Here with a 4 hour technical analysis update of theta.
Before getting into my analysis I will provide you with the trade details.
Entry - Current price action $5.86
Stop Loss - $5.72
Risk to reward - 7 to 1
Leverage - 10 x recommended or lower
As we can see #theta has formed a trading range and has currently dropped the bottom of the range, i am expecting theta to reclaim the range and head to the top of the range @ target 2 of $7.20 usd.
We also have formed a bullish falling wedge, with three touches to each side confirming it is valid, now we are looking for a break out of this wedge to give us confluence that theta will indeed head to the top of it's trading range.
The 4 hour has also recently shown a Swing Failure pattern reversal pin, showing bulls are trying to take control here.
Best of luck!
420 Investments Here with a 4 hour technical analysis update of theta.
Before getting into my analysis I will provide you with the trade details.
Entry - Current price action $5.86
Stop Loss - $5.72
Risk to reward - 7 to 1
Leverage - 10 x recommended or lower
As we can see #theta has formed a trading range and has currently dropped the bottom of the range, i am expecting theta to reclaim the range and head to the top of the range @ target 2 of $7.20 usd.
We also have formed a bullish falling wedge, with three touches to each side confirming it is valid, now we are looking for a break out of this wedge to give us confluence that theta will indeed head to the top of it's trading range.
The 4 hour has also recently shown a Swing Failure pattern reversal pin, showing bulls are trying to take control here.
Best of luck!
420Fam