📉Theta Network (THETA): A Successful Short with Moving Average Confirmation
Fresh analysis for the community! ✨ Today I bring you an example of how moving averages can be our best allies. In the case of Theta Network (THETA), the chart showed a bearish trend with an accumulation phase.
The key here was the setup of the moving averages: the 99-period moving average was above the chart, confirming the bearish pressure. Additionally, the 7-period moving average crossed below the 25-period moving average, a classic signal that the downward trend was strengthening. These indicators, combined with the fluctuations and rejections observed, gave us the confidence for a short entry at 0.8299. The close at 0.8210 resulted in a profit of 5.38 USDT.
Always confirm your hypotheses with multiple indicators! 📊
