Cryptocurrencies

THETAUSD Elliott Wave Technical Analysis March 16 2023

4Hour

Theta Token/U.S.dollar(THETAUSD)
THETAUSD Elliott Wave Technical Analysis
Function: Follow trend    
Mode: Motive
Structure: Impulse
Position: Wave III
Direction Next higher Degrees: wave (I) of Impulse
Details: : Wave II is likely to end at the level of 0.85  and a five-wave rise from this level will confirm it.
Wave Cancel invalid Level: 0.706

Theta Token/U.S.dollar(THETAUSD)Trading Strategy:Theta Token price has recovered well from the 0.850 level but the price is still in a downtrend as it is below the MA200 line, but even then we have completed the second wave retracement and the retracement of the 0.850 level. A five-wave rally confirms this idea, making the price likely to trade above 1.302 and potentially leading to 1.784.

Theta Token/U.S.dollar(THETAUSD)Technical Indicators: The price is below the MA200 indicating a DownTrend.  The wave oscillators above Zero-Line momentum are bullish

Daily

Theta Token/U.S.dollar(THETAUSD)
THETAUSD Elliott Wave Technical Analysis
Function: Follow trend    
Mode: Motive
Structure: Impulse
Position: Wave III
Direction Next higher Degrees: wave (I) of Impulse
Details: : Wave II is likely to end at the level of 0.85  and a five-wave rise from this level will confirm it
Wave Cancel invalid Level: 0.706

Theta Token/U.S.dollar(THETAUSD)Trading Strategy:Theta Token price has recovered well from the 0.850 level but the price is still in a downtrend as it is below the MA200 line, but even then we have completed the second wave retracement and the retracement of the 0.850 level. A five-wave rally confirms this idea, making the price likely to trade above 1.302 and potentially leading to 1.784.

Theta Token/U.S.dollar(THETAUSD)Technical Indicators: The price is below the MA200 indicating a DownTrend. The wave oscillators below Zero-Line momentum are bearish