TRON retains bullish structure after liquidity grab
The move below the higher low at $0.0752 on 1 June was a liquidity hunt since this break of structure (formation of lower low) was not followed by a lower high and another lower low. Instead, prices pushed past the previous local highs at $0.08
Fibonacci retracement levels showed the 78.6% retracement at $0.0765 was retested as support and TRX bounced higher. This suggested TRX could reach higher to the 23.6% extension level at $0.0885
Entry: $0.0773
Stop-loss: $0.0738 (below the recent low)
Take-profit: $0.0885
R:R- 3.1
Given the sentiment in the crypto market, profits can also be taken near the $0.0858 mark
Fibonacci retracement levels showed the 78.6% retracement at $0.0765 was retested as support and TRX bounced higher. This suggested TRX could reach higher to the 23.6% extension level at $0.0885
Entry: $0.0773
Stop-loss: $0.0738 (below the recent low)
Take-profit: $0.0885
R:R- 3.1
Given the sentiment in the crypto market, profits can also be taken near the $0.0858 mark
invalidated