Theta Fuel Short-Term: Perfect Double Bottom (100-200% Bu-Pot.)

14 Eyl

Here we have a perfect double-bottom and this tends to work as a reversal signal. A double-bottom means that the previous bullish wave has been corrected by 100%. That is, TFUELBTC hit a low and this low was followed by a bullish wave, a correction then removed all gains with support being found at the exact same level before the original up-move. In this case, this level stands at 82 satoshis or 0.00000082 BTC.

The development of a new bullish wave is supported by rising volume, short-term price action and marketwide action.

Short-term, we have higher lows with resistance being challenged as buying pressure builds up.

Marketwide, we have now dozens and dozens of Altcoins vs Bitcoin pairs that have been growing between 80% and 150% in the last 1.5 months.

Theta Fuel will not stay behind and it can easily grow 100%, 200% or even more.

Namaste.