source avatarPeter -CT

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Most charts this week are showing bounces. $MORPHO is the one showing a breakdown that stuck: the 2.14-2.20 shelf gave way, and price hasn't clawed back above either moving average since. That's the story so far. Lower highs, falling averages, and a range that keeps compressing under them. Nothing about this looks like a floor being built. The zone that matters sits overhead at 2.24-2.26, the last bullish base before the selloff. Any bounce into 2.11-2.13 runs into the fallout from that base, and that's where I'd expect sellers to show up again. Continuation is what I'm assuming here. The 2.05 lows are the obvious magnet, prior post-breakdown liquidity, and a clean break there opens 1.98. The surprise would be a sustained reclaim of 2.13. That's the number that would tell me the breakdown failed, and I'd have to rethink the whole read if it holds above there. Targets: 2.05, then 1.98 Invalidation: 2.13 What to watch: whether the rebound stalls below 2.11, whether volume picks up on the push into 2.05, and whether 2.13 gets reclaimed on a close or just wicked. Did anyone catch that sweep of the 2.05 lows on the last leg down, or was it all offers into the bounce?

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