Cup and Handle ready for the retest
Although there isn't much data on Theta on FTX, a nice Cup and Handle has formed with a retest of the neckline initially failing to penetrate although it is still looking like it might with a Bullish Engulfing and the Daily candle almost closing. Volume has subsided in the middle and increased as price returned to the neckline. The measured move takes it to 0.30610 sats and with BTC looking a little bearish for the time being on an intraday chart and many other alts having a pump, it looks like it could be Theta's turn.
The neckline is a very strong resistance though with this being the fourth attempt at breaking it. The 4hr time frame showing an increasing OBV with price ranging and being held by the day 10 MA. A Bullflag has also formed on the 1hr with some higher than normal volume.
Entry, stop loss and exit have been added onto the chart!
Let me know in the comments if you agree/disagree... Don't forget to follow me on Twitter BeerCanCapital
The neckline is a very strong resistance though with this being the fourth attempt at breaking it. The 4hr time frame showing an increasing OBV with price ranging and being held by the day 10 MA. A Bullflag has also formed on the 1hr with some higher than normal volume.
Entry, stop loss and exit have been added onto the chart!
Let me know in the comments if you agree/disagree... Don't forget to follow me on Twitter BeerCanCapital
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