⚡️ Market Context
MORPHO continues to trade within a broad ascending channel. Since reacting from the structural low at point (D), price has moved into a consolidation phase, building out a multi-wave recovery sequence toward the channel's upper boundary.
📈 Chart Explanation
The current price action reflects the early stages of an (abc) bullish continuation pattern. Before this pattern fully develops, a retracement toward the highlighted support zone is the expected next step, a necessary pause rather than a reversal signal.
🎯 Entry Decision
This is a wait-and-watch setup. The key is not chasing the current recovery but observing how price behaves at the highlighted support zone. A controlled pullback there would validate the bullish structure; a breakdown below the supportive trendline would not.
💰 Execution Plan
Let the retracement play out and confirm at support before committing. The support zone doubles as both the entry consideration and the invalidation level, so risk management around this level is essential.
📈 Outlook
If support holds, MORPHO is positioned to build liquidity for an impulsive move toward the macro objective at zone (E). A break below the supportive trendline invalidates the (abc) continuation setup entirely.
