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Theta

THETA - How tight is your grip?As I had mentioned in my previos idea here: you really have to buckle up and hold tight for this bumpy ride - and boy this one is bumpy. In my update from a day ago on the idea above I had mentioned my buy order around 1,79$ (demand zone and purple support level) and it got executed - so I am actually happy about this. You can see how the price touched the purple level (weekly) and then got rejected. So what's next? Well unfortunately the price moves are heavily correlating to $BTC - so we will watch closely what $BTC will do - and it does not look like the end of it, when you look at the weekly and monthly volume with the price decline. The good news for $THETA on the other hand is that even though price does decline, so does volume (weekly/monthly). So I am not worried and since I believe in the product itself and see intrinsic value in it, I will wait for calmer times. Make sure to keep enough cash in your account to accumulate and average down when you find a product/stock/cryptocoin you believe in. For reasons of transparency: I am invested with 1/2 of my account size in $THETA and keep 1/2 as buffer cash to buy dips. Stay healthy!
Long
by RedFoxTrading
2
THETA: Hold on tight for a bumpy ride & Watch the Trading Range!I know this is a shaky and bumpy ride, but the real question is: Do you believe in the technology and vision? There are so many coins that have no intrinsic value, but a few actually do: PUNDIX offers real physical products for paying with crypto, VeChain can actually solve supplier-chain issues and Theta does not only help with fair bandwidth allocation, but enterprise validator nodes are run by "Google, Samsung, Sony, Creative Artists Agency (CAA), Binance, Blockchain Ventures, DHVC and gumi. Theta leverages its user base of millions of viewers on the Theta Network to seed its peer-to-peer video network along with premium content partnerships with Lionsgate, MGM Studios, NASA, and others. Popular video platforms integrated with Theta infrastructure include CONtv Anime, Party Poker, World Poker Tour, Cinedigm, Samsung VR, GameTalkTalk, MovieBloc, Ultra, GFUEL and other OTT media, entertainment, and live streaming services. Strategic corporate investors include Samsung NEXT, Sony Innovation Fund, Bertelsmann Digital Media Investments (BDMI), Creative Artists Agency (CAA), and Silicon Valley VCs including DCM and Sierra Ventures." - docs.thetatoken.org There are actually some more valuable coins (in my opinion) like Dent, SiaCoin etc., but you have to do your own due-diligence. So, back from advertising to trading ;) I have highlighted the trading range for $THETA with a yellow box - our candles should close within that (especially weekly and monthly candles). Wicks can be outside of the box, but that's it. When 4hr candles close outside of the trading range, you will see them as a wick on the weekly or monthly chart - no need to be alarmed there and it takes strong nerves, because these shakeouts are sometimes pretty heavy. Large operators try to get the coins/shares as cheap as possible from retail investors, so they flood the market with supply; retail investors panic, sell their coins to "the market" (actually whales) and then the price takes off and large operators will sell the coins back to the same naive investors, who sold their coins at a bargain to them - kind of sickening isn't it? All I can say is hold on tight for a bumpy ride and of course this is no financial advise, just some prep talk :D Remember: "Nothing worth having comes easy." ― Theodore Roosevelt For reasons of transparency: I am invested in $Theta with 1/4 of my account size. 3/4 are kept for buffer cash to buy sudden drops in price. Stay healthy everyone!
Long
by RedFoxTrading
6
THETA - Buy the dip! Or sell at loss?Once again it has been a while folks and I hope you are all healthy and well! The market is still moving in its wide trading range of an accumulation phase and I hope all of you have strong nerves! We have experienced several automatic rallies, that got rejected at the previously established price levels (purple for weekly and white for monthy levels). Theta price had experienced a spring (downward movement, followed by a spring upwards) and now we have just seen another shakeout. Remember: Shakeouts can follow after a price advance has started, with rapid downward movement to induce retail traders and investors in long positions to sell their shares to large operators. As long as the price moves within this trading range, we are fine and I wait for a sign of strength, followed by a last point of support. Usually one should watch out for low volume and diminished spread, which will serve as a confirmation. Finally the price should take off. The only problem is that noone can really say how long it will take, so rather then selling at a loss, I used some of my buffer cash to buy a little bit more and averaged down. For price target references I use my monthly levels of resistance (white lines) or supply zones (red boxed), where I will then sell the amount I have just used to average down. Example: Let's say you bought in at 10$ a coin with 1000$, making a total of 100 coins and then the price fell to 5$ (-50%). You can now rebuy another 100 coins with 500$ and average down your purchase from 10$ per coin to (1000$ + 500$) / 200 coins = 7,5$ per coin (-25%). Now, when the price goes back up to 7,5$ from 5$ you are out of the previous loss (-25%) and back at 0%, with the option to sell 500$ worth of coins (~66,6) and keeping the average price. Your initial coin size of 100 would increase to ~133,3 with an average of 7,5$ per coin. That sounds easy, right? It actually is, but the biggest elephant in the room are our emotions... Controlling emotions is a never ending task, which you can get better a by practicing - unfortunately not with demo accounts, but real trading - just start small. As always, do your own due diligence. This is no financial advice, so trade with care! For reasons of transparency: I am invested in $THETA with 1/4 of my account size. The rest is buffer cash for buying dips.
Long
by RedFoxTrading
1