Oasis ROSE - Topped out?? Many rejections across the board
ROSE is currently hitting resistance after its strong rally to $0.54, and it's not certain whether it will break through or see a rejection. It is facing the tail end of a hidden bearish div in the daily RSI spanning months, but also on the hourly timeframe inside a descending triangle. ATM, it is getting rejected off the bottom of the triangle, things do no look too good here at time of writing.
ROSE has been trading inside a rising channel since July now, and has hit the top of the channel like clockwork. Probability says it will likely be rejected and retrace lower, possibly to $0.36 or to the bottom of the channel at around $0.27. This is all dependent on Bitcoin's PA.
ROSE is certainly very bullish, but it also has been pumping out of sync with BTC, so that makes it vulnerable to retracements during large BTC pumps. It will also be hardest hit when BTC starts to look even remotely weak, as coins that rise fast can drop fast.
ROSE could still move up, there is room above the daily RSI, but it will need a lot of strength to break resistance after such a large pump. Possible, but not most likely.
Stay cautious. I would not recommend an entry here, but think about taking profit, and if hodling, be prepared for a possible short term downtrend.
ROSE has been trading inside a rising channel since July now, and has hit the top of the channel like clockwork. Probability says it will likely be rejected and retrace lower, possibly to $0.36 or to the bottom of the channel at around $0.27. This is all dependent on Bitcoin's PA.
ROSE is certainly very bullish, but it also has been pumping out of sync with BTC, so that makes it vulnerable to retracements during large BTC pumps. It will also be hardest hit when BTC starts to look even remotely weak, as coins that rise fast can drop fast.
ROSE could still move up, there is room above the daily RSI, but it will need a lot of strength to break resistance after such a large pump. Possible, but not most likely.
Stay cautious. I would not recommend an entry here, but think about taking profit, and if hodling, be prepared for a possible short term downtrend.
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