ROSE is ranging, bearish Bias forming again but not confirmedRose did not do well to follow the pack with the BTC ATH. It showed some small effort but failed to break from the zone it has been ranging in since mid-oct. If you follow me you will know I am bullish on Rose, but again it is at this key level, I made a weekly analysis recently on Rose which identified its key weekly supports and where it needed to hold, otherwise we might open up a short sell.
Rose is again showing similar signs at the 1.9 support level (slightly under 1.9). It has formed a descending flat bottom triangle which has a bearish Bias. It is stuck in this range currently and bumping on the lower support. MACD and RSI suggest it will keep ranging for the time being, but it is currently suffering.
Importantly, OBV has held key level, and support has so far held so there is still hope. Rose is not a stranger to explosive moves from a low range
Why this might be interesting: As with last week, It is threatening to break down its weekly trend, though it has a few days yet left to show strength - which is exactly what it did last week. Keep an eye on ROSE toward the end of the week and lets see if it can show another strong move. Bullish move will be signaled by trend and range break. Optimistically, ROSE weekly has a cup and handle form developing (to candle bodies), so we can still see the long term potential here
If price breaks down from support can look to Short sell to 1.7 on retest
