ROSE has been one of the winners of the last week, seeing almost 75% gains in just a couple of gains. However, bears are looming for a reversal.
Over the course of almost a year, ROSE has been trading inside a well-defined ascending wedge. Every time the price has hit this pattern's top resistance, a strong bear move followed.
Bears are waiting for a rejection of the resistance to hop in and drive the price down. In case you're looking for a bearish entry, wait for further BTC weakness. In case you're in a long swing-trade, consider taking partial profits.
@MotorcycleMax daily close above the wedge could indeed confirm the break out. Expect more bullish pressure as long as BTC goes up. Would still be careful since we're trading at a strong resistance and trend lines could deviate a bit.
valentinradu1
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current price represent a breakout? thx
UnitedSignals
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I guess we have a similar view on that. Well done!