THETAUSD Elliott Wave Technical Analysis February 12 2023
4Hour
Theta Token /U.S.dollar(THETAUSD)
THETAUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction Next higher Degrees: wave II of Motive
Details: Retracement of wave ((2)) usually .618 x Length wave ((1)) at 0.897
Wave Cancel invalid Level: 0.706
Theta Token /U.S.dollar(THETAUSD) Trading Strategy: Theta Token is likely to retrace in Wave II after the price fails to cross the MA200, which is a key resistance. The retracement of wave ((2)) is usually .50 or .618 x wavelength ((1)) at 0.897. Upon completion, the price resumes its main trend in wave III, waiting for wave II to complete.
Theta Token /U.S.dollar(THETAUSD) Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators Below Zero-Line momentum are bearish
Daily
Theta Token /U.S.dollar(THETAUSD)
THETAUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction Next higher Degrees: wave II of Motive
Details: Retracement of wave ((2)) usually .618 x Length wave ((1)) at 0.897
Wave Cancel invalid Level: 0.706
Theta Token /U.S. dollar (THETAUSD) Trading Strategy: Theta Token is likely to retrace in Wave II after the price fails to cross the MA200, which is a key resistance. The retracement of wave ((2)) is usually .50 or .618 x wavelength ((1)) at 0.897. Upon completion, the price resumes its main trend in wave III, waiting for wave II to complete.
Theta Token /U.S.dollar(THETAUSD) Technical Indicators: The price is below the MA200 indicating a Down Trend. The wave oscillators above Zero-Line momentum are bullish
