Theta is a decentralized video streaming project focused on the gaming community and based on blockchain and with resource management via p2p for high definition content, including VR, this project is being promoted by Steve Chen, one of the founders of YouTube and the It is true that from my point of view it is very promising.ç
It has its own native token, of the same name, which has had a spectacular rise in recent months.
For several weeks I have heard several recommendations of this project on Twitter, which already exceeds $ 2.9 billion and is ranked number 27. by market capitalization. And the truth is that I fixed my attention when it exceeded the 1 dollar barrier, a couple of months ago, then I started to follow its behavior, I saw it fluctuate between $ 1.50 and $ 2.30, so a couple weeks ago when I saw it between below the $ 2 threshold, place an order at 1.88 and with the intention of holding half of the capital and with the other half do some scalping.
I did not expect such a quick response, after collecting a lower profit between the range of 1.88 to 1.98. A few hours later I had a joyous awakening with Theta above 2.15, which was my medium-term target price. Well, like many cryptos in recent days, Tetha have had new ATHs - and about 8 hours ago Theta made resistance at 3.05, with a new support zone around 1.85. on the hourly chart, so in the last few hours I have been scalping between the range of 1.85 and 3$ with very good results.
So far I have a return of more than 50% only in the amount that I decided to hold. not bad for an experimental move to a project that still has a lot of potential.
Now that I see that the trend is starting to decelerate a bit, but that it is still holding, bullish, my hands itch a bit to close trades and wait for a good correction (around 2.50) to increase my position, which I believe, if it continues at this rate, this week it can be around $ 3.50. Let's see what the market holds for the next few hours.
Legal Note: This is just my trading journal, I do not offer financial services, do not consider this as advice. Do your research and draw your own conclusions, the sole purpose of this content is to contribute to the debate.