Theta surged again more than 295% |We should keep an eye on this


bullish rally:

On daily chart the priceline of Theta is moving in up channel and at the moment it is hitting the resistance for breakout. The price action has also broken out simple moving averages with the time period of 25, 50, 100 and 200.

On 4 hour chart the priceline is in a perfect up-trend line and at the top it formed a Head & Shoulder pattern. But could not break down the support of up trend line .

On daily chart the priceline is using EMA 10 and EMA 20 as good support.

For good exit point we can use the combination of EMAs, MACD , Stochastic and momentum indicators. If they will give bearish signals with complete synchronization with each other then it can be taken as a sell signal:

Even though the priceline of Theta is very strong bullish . But we should keep an eye on the support of up channel and different indicators as mentioned above. If the support will be broken down and indicators will turn bearish then the trend can be changed from bullish to bearish .