TIA is currently in a downtrend, consolidating around the current price.
Weekly timeframe
Assuming we have an ABC correction, we’ve just hit the first target of 0.618 on fib, suggesting the correction may finalize here.
Subsequent targets are marked at $4.1 and $3.2.
If a more extended correction like WXYXZ occurs, there are additional support areas where the price could end its correction, noted below.
4h Timeframe
On 4H, the price appear to be consolidating but as long as we cannot break the bearish structure – right now we’re forming a descending triangle (it can also be treated as a symmetrical triangle which is more neutral but i dont want to count the wicks as the support level is clear on the chart).
As long as we hold the support, we can push towards the next resistance level at 7.40$, and if we break below, we will go lower.
Any potential trades will be taken on breakout (close over/below) – on retest.
