Recently I made a short-term analysis on ROSE, which has played out well. Today I want to take a look at a longer-term pattern in which ROSE has been trading.
Over the last few months, ROSE has been trading bearish alongside a very distinct bearish trend line. Earlier today, ROSE rejected from the trend line and lost a couple of percent. However, there's still a decent chance that ROSE will break out through this resistance in the coming days, assuming BTC will remain neutral at least.
In case of further bad news, expect ROSE to fall further yet again. The lower bound of the falling wedge pattern will offer support in this case.
Happy trading!
Over the last few months, ROSE has been trading bearish alongside a very distinct bearish trend line. Earlier today, ROSE rejected from the trend line and lost a couple of percent. However, there's still a decent chance that ROSE will break out through this resistance in the coming days, assuming BTC will remain neutral at least.
In case of further bad news, expect ROSE to fall further yet again. The lower bound of the falling wedge pattern will offer support in this case.
Happy trading!
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