Because the entry point is so clear, I'll spare the fundamental details about Rose in this post. Take a look at the huge gap between support and resistance, this coin is going to reach Resistance again this weekend, without a shadow of doubt.
- The support level hasn't officially been touched yet AND the resistance level has already been tested. For those unaware, the more times a S/R level is touched by wicks, the WEAKER it becomes, improving the likelihood of that barrier being broken.
If you enjoy these brief entry breakdowns, or you love alt coins that smash 10-200x then drop a follow, I post every day and don't want my fellow traders to miss out :)
@MatthewHardy, the target price remains the same, especially considering at the time of typing this ROSE has only dropped 1 cent. the only change worth mentioning, is the black friday 'mini-crash' that followed the stock market dip which followed the omicron variant discovery; this slowed down the bullish momentum that altcoins such as ROSE had prior. the journey continues!
stickynoodle69
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thanks to Btc manipulation and VC's dumping it might not play out. Sigh* just more bullsh*t
MikeyFergus
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@stickynoodle69, yep it was definitely on track until Black Friday came along. The trigger was initially the new covid variant in South Africa, which hurt the stock market and led crypto investors to believe the blockchain was going to suffer also, so they sold their holdings. Retailers were then liquidated which made things worse. Oh well, regardless ROSE is still a coin I've stuck to and I'm not selling any of it until it breaks $1.30 then I'll sell a portion.
nicko_0537
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Do you think this is still possible?
MikeyFergus
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@nicko_0537 this weekend may be a struggle due to the entire market crashing 20% or so last night. possible? yes it still is. likely? I’m on the fence with that one. However, regardless, ROSE is an absolute steal at prices like these considering I plan to hold it long term and sell at $3+
MatthewHardy
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Still confident mate? We trending bellow support now with not much momentum up
MikeyFergus
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@MatthewHardy we can all blame the black friday curse for that one. the entire market is down a fair bit, pretty good opportunity to buy some dips. to answer your question, yes im still confident :)
aivainvesting
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@MatthewHardy, Check weekly, uptrend support is low 20s. Its all good.
MikeyFergus
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@Aivabtc, can always rely on the weekly + zoom out combo haha. cheers for the intel mate