In order to confirm my previous analysis, we need to see some kind of a bear-trap reversal. It probably would be very choppy and uncertain but I see a strong enough v-bottom in all of crypto that I think this could hold up.
Long entry target would be around the rectangle box I drew, but only on the way back up and out of that range as a minor confirmation of this having become a bear-trap, but the move back up after the drop-return to 19.7k sats will need to include pretty strong bullish volume at least similar to the volume of the move down to under 20k sats.
Failing to move up quickly could easily lead to a larger-distributive top for THETA/BTC.
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