If the price does keep falling down then we should see 8950 which is the daily low of interest. Below that we have several price targets including Fibonacci levels 50% at 8774 USD, 38.2% at 8403 USD and measured targets of 8645 USD and 8325 USD.
A tight stop loss would be at 9433 USD and attempting to ride the BO down to sub 87xx USD. Long/short ratio is still heavy on the longs and the main reason why there could be shake-out to lower levels.
In all circumstances its always recommended to manage your risk accordingly and use stop losses as sudden news can always have unexpected results.
If you like this daily write-up or have a different idea, please feel free to share it down in the comments! I’m more than happy to read all the ideas from you and get a comprehensive view of what everyone thinks.
Thank you for reading,
Good luck trading
Published at Thu, 07 Nov 2019 13:51:20 +0000