Notable Pause in Price Action At an 88.6% Retrace
Oxygen Ecosystem Token / USD FTX:OXYUSD
There is not much of a pattern here we are basically trading at all time lows but we are at a point where it can only literally lose all of it’s value if it goes lower and a stop loss while fairly wide can be easily applied and justified when thinking of the potential reward. I believe that if it holds these lows that it will retrace back up to the 88.6% retrace from high to low and the return on such a trade would greatly outweigh the wide potential risks so long as one is prepared to potentially lose 42% of what they decide to put down on this trade here in anticipation of a potential gain that could be in the thousands of percentage points.
