$MORPHO – Rejection at Resistance, Bearish Momentum Incoming
Trading Plan: Short $MORPHO
Entry: 1.951 – 1.980
SL: 2.065
TP: 1.905
TP: 1.875
TP: 1.839
Price hit a sharp peak at 2.059 but failed to sustain, forming a clear rejection candle. The 4h chart shows a cooling-off period after the recent surge. RSI(6) is at 73, indicating it’s heavily overbought and due for a correction. As volume starts to fade at these highs, we expect a pullback towards the support structure. Selling pressure is building up—watch for the slide.
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