OASIS ROSE - Still bullish!! $0.42 next?? - Market Update Dec 21While the entire crypto market suffered a huge blow due to the BTC crash, ROSE has maintained a very unique and bullish structure, despite the astonishing yet not surprising -63% drop. ROSE had a quick wick down to $0.17, but since then recovered very nicely.
For support, ROSE's most significant level of support is the steep diagonal trendline that started back in July. This is a pretty unique phenomenon and I am personally amazed it has held this well. Though not granted to hold forever, there is a very strong chance we shouldn't see anymore significant downside. This trendline should hold, barring a catastrophic BTC crash.
For resistance, we first have the the 50 Daily MA coming in at about $0.27. Then $0.30 (0.382 Fib), $0.33, $0.36 (Sep ATH ), $0.42, and lastly $0.46. The biggest challenge will be the $0.33-0.36 range (Golden Pocket to Sep ATH ). Also, there may be an upper trendline, helping form a rising channel, but we ideally need another confirmation.
If BTC stays fairly bullish, ROSE may soon rally hard, as it tends to get strong bounces off the trendline. Best case, ROSE hits $0.42, but more realistically may set a local top at the Golden Pocket near $0.36, before retracing. The price action will be largely governed by how well BTC does. In the immediate short term, ROSE needs to break the $0.27 range, and if it fails here, may return to the trendline at about $0.245.
Conclusion is ROSE looks like a great buy right now, and I would highly recommend Dollar-Cost-Averaging the dips. BTC has fired many bottom signals, and is primed for a pump through to next year. It is realistic to see ROSE at $5-$10 by next year.
