TIA Fractal: Can it consolidate lower?

This is not a trade I actually took but am curious to see if this plays out, in which case I will be buying lower.

PA has been a monster the past month so shorting at any level is not a good idea, but selling from weak holders could be possible, especially if BTC plan on retesting 39.5k.

Let me know if you have similar ideas about TIA and if you are still holding.

Good luck!

Comment:

This was an audacious call which clearly hasn't gone right.

Unless it double tops from here (which I highly doubt, given the volume that has been pouring into many alts the past week), TIA is likely to either continue consolidating between $15 and $12 or is likely to go much higher.

While BTC never tapped 39.5k, its decent to 40.5k led TIA to $10.90, so barring a complete bart of this month's BTC PA, $9 should be out of the question.

Trade closed: target reached:

As stated before, I did not take this trade, but used it as an indicator for a good spot to load up on TIA.

However, due to the size of the rounded top it formed, it is hard to confidently buy here. Many holders were frustrated with its performance the past 3 months and the staking period just ended yesterday.

Curious to see how it performs after this recent dump and if previous stakers are still confident in it.

Good luck!