THETA – Technical Analysis

THETA Technical Analysis Video

Monthly - Higher timeframe Theta technical analysis

  • Massive, powerful uptrend from the March 2020 lows up to the peak in Mar / Apr 2021
  • A move from bottom to top of 44,582% over 396 days
  • I started accumulating at around $0.20, even from there we saw a conservative 6,000% move
  • THETA peaked earlier than Bitcoin and many of the Alts, we had a blow off top type move in the 3rd week of March, with a secondary retest of that high in mid April.
  • Since mid April, THETA has been in a monthly Macro downtrend
  • We can see the price action being held under the decending monthly resistance
  • We saw a bit of a fakeout in November before it got dragged down by bitcoins gravity in December and January
  • To a low we can see at the end of January
  • In total we have seen an 85% drawdown from the high in April to the low in January
  • A devastating move and as many have held through this time saw their bags shrink massively
  • This is why diamon hands are not the best strategy, we should always be taking profits, layering out and layering in at lower prices
  • Over the last couple of months the downtrend has become steeper, but we
    have seen a powerful bounce since the lows and are now showing signs of
    breakout on the tightest monthly resistance

Theta Short term technical analysis

  • On the short term we can see a local low in January with a 50% bounce since
  • We have several downwards sloping resistance line, it is interesting to note that as we break each of these we have a powerful push upwards.
  • We have had some bullish Theta news which has pumped Theta (10th Feb 2022) when the wider market was down.
  • We are pushing through resistance and have broken a major daily downtrend resistance line.
  • More upside is possible, though we are heading into resistance and should be keeping an eye on Bitcoin and the wider market as a bitcoins gravity will come into play more as this news event fizzles out.

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