ROSE â Looks Like A Proper Breakout đ
More and more altcoins have started to print super-exciting charts. ROSE is one of them. Let's dive in and see how a potential trade could be tackled.
1ïžâŁ Background
ROSE broke out of its downtrend that started in June. More importantly, the breakout was driven by strong volume. Even better, after the breakout, ROSE cleared the key resistance at $0.068. That's the stage we want for the next move.
2ïžâŁ How To Approach It
- Entry: A close above $0.068 on the 12h or 1D chart should serve as proper entry.
- Target: The next logical target is $0.088, which aligns with the next resistance zone. Depending on the exact entry this leads to a profit of ~23%. Therefore, it might be reasonable to add an additional target on the way up.
- Stop: Set the stop just below $0.068 to manage risk in case the setup fails.
