✴️ Oasis Network | New High Hit (Name Your Altcoin #39)

13 בפבר׳ 2023

Another altcoin that is looking great is Oasis Network (ROSEUSDT), thanks for calling this to my attention.

It grew by 50% last week, hit a multi-months high and also shows the highest volume since August 2022 and overall one of the highest volume weeks ever.

The most important signal on this chart is the major downtrend coming off the January 2022 high being broken.

The stop-loss hunt event/fish shakeout is marked yellow as a "cup pattern".
This is not a "new low" technically, this is a "guided" move.

If we didn't have any manipulation by big players prices would remain consolidating above the June 2022 low.
It only breaks below this level because the big players can see where all the stops are, they get activated and as soon as this happens the next wave can start.

Notice that as soon as the stop-losses are activated strong bullish action ensues.
That's why we avoid placing stop-loss. We only write them down manually or else you can get kicked out of your position just to have to buy back again at a higher price.

Anyway, with a major downtrend now broken, a new trend can start to take form.

The potential targets mapped on the chart are based on the medium-term, long-term there can be more.

Namaste.