***Updated: This analysis was updated due to an error with the chart. It has been corrected, and is actually slightly more bullish.
The bullish chart caught my eye. Theta Looks to be headed higher toward the end of a 3rd wave. Check out the cup and handle pattern, which helps confirm the bullish wave count. The upward projection from the cup and handle predicts an initial move to .65 (taking the measurement from the bottom of the cup, to the top of the handle’s breakout zone). A corrective 4th wave should follow, which is likely to be a net sideways/consolidation type correction since wave 2 was very deep, based on the principle of alternation. This doesn’t rule out a deep correction since principles are not hard rules.
Truly massive run since the lows in March. There have been some interesting fundamental developments in THETA as well. I’m primarily interested in projects with practical use and value in a bullish long-term trend. THETA looks to be one.
Press releases this month:
SEP 03, 2020Ultra gaming platform integrates Theta Network for live streamingCoinTelegraph
Happy Trading!