Yello, Paradisers! Is this breakout the beginning of a bullish reversal for #THETA or just a setup to trap the herd before a sharp dump? Let’s break down the setup of #ThetaNetwork:
💎After weeks of slow bleeding inside a falling wedge, #THETAUSDT has broken out of this pattern. The price is currently hovering around $0.718, and it’s the first time in weeks we’re seeing real bullish momentum starting to build. The volume is slowly picking up, so the probability of a bullish push is higher.
💎A clean breakout above the descending resistance now opens the door toward moderate resistance at $0.999. That’s the next key hurdle where we expect sellers to show up. If bulls are strong enough to clear that zone, we’re targeting the strong supply level at $1.284, where significant distribution will likely begin.
💎Why this setup matters: The support zone between $0.60 and $0.66 has acted as strong demand for multiple weeks now for #THETAUSD. Price wicked into it again recently and got bought up quickly, forming a potential higher low. This kind of accumulation behavior often precedes a strong leg up if volume confirms the move.
💎However, if price loses the key support at $0.60, and more importantly breaks below the setup invalidation level at $0.439, we’ll treat this as a failed breakout and expect a deeper correction. That would bring us back into the lower demand zones, and we’ll sit on our hands until the next proper high-probability entry appears.
Stay patient, Paradisers. Let the breakout confirm, and only then do we strike with conviction.
MyCryptoParadise
iFeel the success🌴
💎After weeks of slow bleeding inside a falling wedge, #THETAUSDT has broken out of this pattern. The price is currently hovering around $0.718, and it’s the first time in weeks we’re seeing real bullish momentum starting to build. The volume is slowly picking up, so the probability of a bullish push is higher.
💎A clean breakout above the descending resistance now opens the door toward moderate resistance at $0.999. That’s the next key hurdle where we expect sellers to show up. If bulls are strong enough to clear that zone, we’re targeting the strong supply level at $1.284, where significant distribution will likely begin.
💎Why this setup matters: The support zone between $0.60 and $0.66 has acted as strong demand for multiple weeks now for #THETAUSD. Price wicked into it again recently and got bought up quickly, forming a potential higher low. This kind of accumulation behavior often precedes a strong leg up if volume confirms the move.
💎However, if price loses the key support at $0.60, and more importantly breaks below the setup invalidation level at $0.439, we’ll treat this as a failed breakout and expect a deeper correction. That would bring us back into the lower demand zones, and we’ll sit on our hands until the next proper high-probability entry appears.
Stay patient, Paradisers. Let the breakout confirm, and only then do we strike with conviction.
MyCryptoParadise
iFeel the success🌴
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Do you Want to start trading like a PRO?
Follow a team of traders with 10+ years of experience?
Join FREE👉 t.me/+QwK2mkoTGBU0Nzc0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
Follow a team of traders with 10+ years of experience?
Join FREE👉 t.me/+QwK2mkoTGBU0Nzc0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.