ROSE/USDT — the asset in a horizontal channel

ROSE does not display a clear trend direction so far, the altcoin is trading in a horizontal channel. In this case, the best strategy would be to identify key horizontal levels for placing a buy order and locking in profits. On the chart, the former are marked with green zones and the latter with red. The RSI and MACD technical indicators also do not show the presence of a clear trend.

Partly a good impetus to the price movement can be caused by overcoming the line drawn between the two local highs. If this scenario does not play out, the asset will continue to trade in a horizontal channel. The channel itself is marked on the chart with red lines.

In this case, you can use the GRID bot from 3commas to automatically place limit orders to buy/sell ROSE at the aforementioned levels. To do this, follow the steps below:

  • Head over to the GRID Bot by choosing it from the main menu in your 3Commas account.
  • Select the USDT Market and the ROSE/USDT pair;
  • In the Grid Bot tab, go to the Manual strategy settings;
  • Set the upper limit price to 0.054 and the lower limit price to 0.042. Number of grid lines: 10. Set the quantity per grid parameter according to the amount you wish to spend on each trade;
  • Click the Create button, then sit back and let the Grid Bot go to work!