Short
ROSE mcap red flag
With ROSE trading lower along with its token release schedule, the ROSE market cap chart has proved to be a very good indicator for TP and demand zones. Over the bear market the ROSE market cap chart has developed into a very clear descending triangle. I have been day trading ROSE throughout this bear market and today's daily close saw the first break below the triangle base. Which to me is a bad sign
Currently looking to sell rallies back toward the 220M mcap ~0.03866 ROSEUSD
If ROSE regains that 220M mcap level will be bullish, until then I am bearish, despite the already very low price
The tv ROSE market cap chart doesn't show the full timeline, so linked is another chart with a clearer overview
https://charts.cointrader.pro/snapshot/1MPqm
charts.cointrader.pro/snapshot/1MPqm]https://charts.cointrader.pro/snapshot/1MPqm
Potential targets on USD pair marked here:
Currently looking to sell rallies back toward the 220M mcap ~0.03866 ROSEUSD
If ROSE regains that 220M mcap level will be bullish, until then I am bearish, despite the already very low price
The tv ROSE market cap chart doesn't show the full timeline, so linked is another chart with a clearer overview
https://charts.cointrader.pro/snapshot/1MPqm
charts.cointrader.pro/snapshot/1MPqm]https://charts.cointrader.pro/snapshot/1MPqm
Potential targets on USD pair marked here:
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.